2. Section 3 of the Inland Revenue Act, No. 4 of 1983, (hereinafter referred to as the " principal enactment ") is hereby amended, in subsection (4) of that section, as follows: -
| (1) by the insertion, immediately after sub-paragraph (iv) of paragraph (g) of that sub section, of the following new sub paragraphs: -
| | " (v) the passing of any property to any person on or after April 1, 1977, on the death of the owner of that property, | | |
| | (vi) the passing of any property occurring on the gift of that property on or after April 1, 1977, by its owner to any other person, and | | |
| | (vii) the passing of any property, being shares in any company incorporated in Sri Lanka with which an agreement has been entered into by the Greater Colombo Economic Commission under section 17 of the Greater Colombo Economic Commission Law, No. 4 of 1978, from the owner of that property to any other person by way of sale, gift or otherwise;"; | | |
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| (2) in paragraph (j) of that subsection-
| | (a) by the substitution, for sub-paragraph
| | | (vi) of that paragraph, of the following new sub-paragraph: -
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| | (b) by the substitution, for sub-paragraph (viii) of that paragraph, of the following new sub-paragraph: -
| | | " (viii) where the property is a share which formed or forms part of a holding of such person in a company, being a holding which includes or at any time included-
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Sri Lanka Consolidated Acts