4. Section 11 of the principal enactment is hereby amended as follows:"
| (1) in paragraph (a) of that section" a
| | (a) by the substitution for the words and figures, " an agreement has been entered into by the Greater Colombo Economic Commission under section 17 of the Greater Colombo of 1994 Economic Commission Law, No. 4 of 1978 ", of the words and figures " an agreement has been entered into by the Board of Investment of Sri Lanka under section 17 of the Board of Investment of Sri Lanka Law, No. 4 of 1978, being an agreement which has been entered into prior to December 31, 1994, on an application made in that behalf prior to November 11, 1933," and | | |
| | (b) by the repeal of sub-paragraph (ii) of that paragraph and the substitution therefor of the following sub-paragraph:-
| | | (ii) to any person, who is not resident in Sri Lanka notwithstanding anything to the contrary in subsection (1) of section 32L of this Act;" |
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| (2) in paragraph (cc) of that section, by the substitution for all the words from "received by that company" to the end of that company through one or more intermediary companies during the period for which the dividends referred to in paragraph (a) or paragraph (b) are exempt from income tax or within two years thereafter ,if the first mentioned dividends is paid during the year of assessment in which the second mentioned dividends was received or within one year thereafter; and". |
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Sri Lanka Consolidated Acts