10. Section 9 of the principal enactment is hereby amended as follows : -
| (a) in subsection (1) of that section, by the substitution, for sub-paragraph (a) of paragraph (i) of that subsection, of the following sub-paragraph : -
| | " (a) that it is an undertaking for the production or manufacture in Ceylon of goods or commodities commenced on or after April 1, 1951 ; | | |
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| (b) by the insertion, immediately after subsection (2) of that section, of the following subsection : -
| | " (2A) The succeeding provisions of this Act shall apply for any year of assessment commencing on or after April 1, 1962. | | |
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| (c) by the insertion, immediately after subsection (3) of that section, of the following subsection : -
| | "(3A) In respect of any year of assessment commencing on or after April 1, 1962, where the profits and income for that year of assessment of an undertaking to which this section applies are exempt from tax by virtue of subsection (2A) , all dividends which are in that year paid to the shareholders of that undertaking shall be exempt from the tax ; and accordingly the provisions of section 57d shall not apply to such dividends.". | | |
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Sri Lanka Consolidated Acts