Sri Lanka Consolidated Acts

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Finance Act (No. 11 of 1963) - Sect 56

Compensation in respect of premises vested in the Bank under this Part of this Act

76. The amount of compensation to be paid under this Part of this Act in respect of any premises vested in the Bank shall be either the actual amount for which such premises were purchased by, or transferred to, the owner thereof and an additional sum which is equal to the reasonable value of any subsequent additions and improvements made to such premises by any person who was interested in such premises before the publication of the vesting Order in regard to such premises or the market value of such premises, whichever is less.


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