6. Section 7A of the principal enactment is hereby amended in subsection (4) of that section, by the insertion at the end of that subsection, of the following proviso: - " Provided that nothing in the preceding provisions of this subsection shall apply to-
| (a) any dividend declared by a company carrying on any such undertaking as has been approved on or after November 6, 1974, by the Minister under subsection (1); |
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| (b) any dividend declared on or after April 1, 1974, in respect of any share in the capital of a company which is not an ordinary share; and |
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| (c) such part of the total of any dividends declared on or after April 1, 1974, in respect of an ordinary share in the capital of a company out of the profits of any accounting period of that company as is in excess of -
| | (i) ten per centum of the amount paid up on that share before November 6, 1974, where such accounting period is not less than twelve months, and | | |
| | (ii) such percentage of the sum paid up on that share before November 6, 1974, as bears to ten per centum the same -proportion as the number of days in the accounting period bears to the number of days in an year where such accounting period is less than twelve months. ". | | |
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Sri Lanka Consolidated Acts