Sri Lanka Consolidated Acts

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Income Tax (Amendment) Act (No. 4 of 1963) - Sect 39

Amendment of section 84 of the principal enactment. [ 130 (4) (k). 4 of 1963.]

39. Section 84 of the principal enactment is hereby amended in subsection (2) of that section, by the substitution, in paragraph (b) of that subsection, for all the words from " and any property so seized", to the end of that paragraph, of the following: - " and where the property so seized is currency, such currency shall be applied in satisfaction of the tax in default and where the property so seized is not currency, such, property shall be kept for five days at the costs and charges of the defaulter. If the defaulter does not pay the tax in default together with costs and charges within the said live days, the Government Agent, Assistant Government Agent, Fiscal, Deputy Fiscal or the tax collector shall cause such property to be sold by public auction or, where such property is a negotiable instrument or a share in any corporation or public company, to be sold through a broker at the market rate of the day.".


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