212.
| (1)The Minister may make regulations for the purpose of carrying out or giving effect to the principles and provisions of this Act. |
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| (2) In particular and without prejudice to the generality of the powers conferred by subsection (1), the Minister may make regulations in respect of the following matters:_
| | (a) the methods by which an estimate of the income liable to tax may be made, in cases where the amount of such income cannot be definitely ascertained; | | |
| | (b) the procedure to be followed in respect of applications for refunds of any tax paid under this Act and for any allowance or deduction which may be claimed under this Act; | | |
| | (c) any matter which is required or authorized by this Act to be prescribed; | | |
| | (d) penalties for the contravention of any regulations made under this section or for failure to comply therewith, such penalty not exceeding in each case, a sum of five hundred rupees. | | |
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| (3) A regulation made under this section, other than a regulation-
| | (a) prescribing a penalty for; or | | |
| | (b) enhancing a penalty prescribed for, | | |
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| (4) A regulation prescribing a penalty for the contravention of or failure to comply with a regulation, shall not come into operation until it is approved by Parliament and notice of such approval is published in the Gazette. |
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| (5) Every regulation made by the Minister other than a regulation referred to in subsection (4), shall come into operation on the date of its publication in the Gazette or on such other date as may be specified in the regulation. |
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| (6) Every regulation referred to in subsection (5) shall as soon as convenient after its publication in the Gazette, be brought before Parliament for approval. Any such regulation which is not so approved shall be deemed to be rescinded as from the date of disapproval, but without prejudice to anything previously done thereunder. Notification of the date on which a regulation is deemed to be rescinded, shall be published in the Gazette. |
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Sri Lanka Consolidated Acts