Sri Lanka Consolidated Acts

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Finance (Amendment) Act (No. 22 of 1998) - Sect 4

Insertion of new section 14A in the principal enactment

4. The following new section is hereby inserted after section 14A and shall have effect as section 14A of the principal enactment :-
14A.
(1) Every licence issued by the Board conditions under subsection (3) of section 14 shall be subject to such terms and conditions as may be issued determined by the Board and approved by the under Minister.
(2) There shall be paid in respect of every licence issued under subsection (3) of section 14, a fee of such amount as may be prescribed. The fee shall be paid to the Board by the person to whom the licence is issued and shall be credited by the Board to the Consolidated Fund.
(3) It shall be lawful for the Board to cancel a licence issued by it under subsection (3) of section 14, if the holder of the licence fails to comply with, any term or condition to which the licence is subject or any provision of this Act.".

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