134. Where any bank or financial institution issues any -
| (a) Security or Treasury Bond under the Registered Stocks and Securities Ordinance (Chapter 420); |
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| (b) Treasury Bill, under the Local Treasury Bills Ordinance; (Chapter 417); or |
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| (c) Central Bank Security, under the Monetary Law Act (Chapter 422), |
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at a price less than the face value, such bank or financial institution shall deduct from the excess of the face value over such price, income tax at the rate of ten per centum of such excess. Such deduction shall be made at the time of the issue of such Security, Treasury Bond, Treasury Bill or Central Bank Security, as the case may be. |
Sri Lanka Consolidated Acts