12.
| (1) For the purposes of this Act there shall be imposed, levied and paid, a cess, called the industrial development cess, in respect of any industry or industries, in such manner and of such amount as may from time to time be determined by resolution of the House of Representatives. The proceeds of such cess shall be credited to the Fund. |
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| (2) Any resolution passed by the House of Representatives under sub-section (1) may be rescinded or amended from time to time by the House. |
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| (3) Regulations may be made in respect of all matters necessary for the effective levy and collection of the industrial development cess, and its payment into the Fund. |
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Sri Lanka Consolidated Acts