7. Section 25 of the principal enactment is hereby repealed and the following now section substituted therefor:-
| 25.
| | (1) Where the death of the deceased occurs before the first day of November 1973, his executor shall pay the estate duty in respect of all property of which the deceased was competent to dispose at the time of his death and may pay the estate duty in respect of any other property passing on such death, if the persons liable to pay the duty in respect thereof request him to make such payment, but an executor shall not be liable for any duty in excess of the assets which he has received as executor, or might but for his own neglect or default have received. | | |
| | (2) Where the death of the deceased occurs on or after the first day of November, 1978, the executor shall pay the estate duty in respect of all property of which the deceased was competent to dispose at the time of his death and in respect of property which was gifted by the deceased and in relation to which a contribution has been made, or has to be made, to the Personal Tax under the Personal Tax Act, No. 14 of 1959, or gifts tax under the Inland Revenue Act, No. 4 of 1963, has been paid or has to be paid and may pay the estate duty in respect of any other property passing on such death, if the persons liable to pay the duty in respect thereof request him to make such payment but an executor shall not be liable to any estate duty in excess of the assets which he has received as executor or might but for his own neglect or default have received.". | | |
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Sri Lanka Consolidated Acts