8.Section 15 of the principal enactment is hereby amended as follows :
| (1) by the substitution, in paragraph (j)of that section for the words " the terms of that agreement. , of the words " the terms of that agreement;" ; and |
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| (2) by the insertion, immediately after paragraph (j) of that section, of the following paragraphs:
| | "(k) any management fees calculated as a percentage of the gross profits and paid to a non-resident person by a company referred to in section 18a in respect of any period during which the profits and income of that company are exempt, if such payment to such non-resident person is approved by the Minister on the recommendation of the Ceylon Tourist Board ; | | |
| | (l) the profits and income arising to any person from the sale of gems, on or after November 15, 1979, at any gem auction conducted by the Ceylon Chamber of Commerce ; | | |
| | (m) the profits and income arising to any person from the export of gems on or after November 15, 1979 ; | | |
| | (n) any commission received, on or after November 15, 1979, by a broker from the sale of gems at any gem auction conducted by the Ceylon Chamber of Commerce, if such broker has obtained a licence from the Chamber ; | | |
| | (o) such part of the profits and income arising to any person authorized by the Central Bank of Ceylon to accept in foreign currency, from the sale, on or after November 15, 1979, of gems and jewellery as are received by such person in foreign currency; | | |
| | (p) the profits and income arising in Sri Lanka, to the consigner or consignee, from the export, on or after November 15, 1979, of-
| | | (i) any precious stones or metals not mined in Sri Lanka, |
| (ii) any petroleum products, or |
| (iii) such other products as may be approved by the Minister for the purposes of this paragraph having regard to the foreign exchange benefits that are likely to accrue to the country from the export of such products, being stones, metals or products, as the case may be, brought to Sri Lanka on a consignment basis, and re-exported, without subjecting such stones, metals or products, as the case may be, to any process or manufacture ; |
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| | (q) any prize received by a person as an award made by the President of the Republic of Sri Lanka ; | | |
| | (r) any prize received by a person as an award made by the Government in recognition of an invention created, or any research undertaken, by such person.". | | |
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Sri Lanka Consolidated Acts