Sri Lanka Consolidated Acts

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Employees' Trust Fund (Amendment) Act (No. 47 of 1988) - Sect 7

Amendment or section 20 of the principal enactment

7. Section 20 of the principal enactment is hereby amended as follows:
(1) by the repeal of subsection (2) of that section and the substitution of the following subsection therefor :
" (2) Where a person becomes a member of the Fund under the provisions of subsection (1), he shall in respect of each month pay on or before the last day of the succeeding month a contribution of an amount equal to twenty-five rupees or a multiple thereof, so however that the amount of the monthly contribution shall be constant during the calendar year.";
(2) in subsection (3) of that section by the substitution for the words "such date as he ceases to be self-employed ", of the words " such date as he ceases to be self-employed or ceases to be employed outside Sri Lanka ";
(3) by the addition at the end of that section of the following subsection:
" (4) In the event of the non-payment of contributions for three consecutive months in a calendar year or for an aggregate of five months in a calendar year by a person becoming a member of the Fund under subsection (1), such member shall not be entitled to any interest or dividend for that calendar year on his contributions to the Fund.".


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