38.
| (1) If the Commissioner-General is satisfied that the estate of a deceased person consists wholly or mainly of immovable property and that the movable property of the estate available for payment of estate duty is insufficient for such payment, the Commissioner-General may, subject to such terms, conditions and procedure as may be prescribed, accept payment of estate duty in not more than sixteen equal half-yearly instalments, the first of such instalment falling due for payment on a date six months from the date of death of the deceased. |
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| (2) No person shall be permitted to pay estate duty by instalments unless and until he has furnished security for such payment to the satisfaction of the Commissioner- |
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| (3) Where a person is permitted to pay estate duty by Instalments and fails to pay any such instalment within twenty-eight days after the date on which it falls due, the remaining instalments shall be deemed to be in default and the total amount of estate duty remaining unpaid may be recovered in the manner provided in this Act for the recovery of estate duty in default. |
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Sri Lanka Consolidated Acts