10. Section 51 of the principal enactment is hereby repealed and the following section substituted therefor :-
| 51. Subject to the other provisions of this Chapter, there shall be charged from every individual, other than an individual referred to in section 42, and from every company, for every year of assessment commencing on or after April 1, 1979, but before April 1, 1986, a tax which is hereafter in this Act referred to as the " gifts tax'' in respect of taxable gifts made by such individual or company in that year of assessment and in the case of the year of assessment commencing on April 1, 1985, before November 13, 1985, at the appropriate rates specified in the Fifth Schedule to this Act.'. |
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Sri Lanka Consolidated Acts