Sri Lanka Consolidated Acts

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Finance Act (No. 11 of 1963) - Sect 89

Condition for the grant of approval

109. An application to the Registrar for approval to sell a motor car to which this Part of this Act applies shall be granted by the Registrar on the condition that, if the owner of that motor car makes a profit from the sale of that motor car, a sum, calculated in the manner specified in section 110, shall be retained-
(a) by the person specified in the application as the intending purchaser of that motor car, or
(b) where that motor car is directed by the Registrar to be sold by auction sale or tender, by the purchaser at the auction sale or the person who makes the highest offer by tender, as the case may be,
for payment to the Registrar.


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