Foreign Companies (Special Provisions) Law (No. 9 of 1975)

Sri Lanka Consolidated Acts

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Foreign Companies (Special Provisions) Law (No. 9 of 1975) - Sect 7

Certain Acts not to apply to transfer of estates by foreign companies to Sri Lanka companies

(1) The provisions of the Tea and Rubber Estates (Control of Fragmentation) Act, No. 2 of 1958, and of the Estates (Control of Transfer and Acquisition) Act, No. 2 of 1972, shall not apply to the transfer of ownership, made by a foreign company to a Sri Lanka company, of a tea or rubber estate within the meaning of the Tea and Rubber Estates (Control of Fragmentation) Act, No. 2 of 1958, or as the case may be, of an estate within the meaning of the Estates (Control of Transfer and Acquisition) Act, No. 2 of 1972.

(2) In this section " transfer of ownership "-

	(a) in relation to a tea or rubber estate within the meaning of the Tea and Rubber Estates (Control of Fragmentation) Act, No. 2 of 1958, has the same meaning as in that Act; and

	(b) in relation to an estate within the meaning of the Estates (Control of Transfer and Acquisition) Act, No. 2 of 1972, has the same meaning as in that Act.

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