Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsSpecial provisions regarding value of house for the purposes of determining rent
| 4. Where any house to which this Act applies is let by a local authority under the provisions of section 3 (1) to a person who is at the time of such letting in occupation of such house as a tenant, the local authority shall, in the determination of the amount payable by such person by way of rent upon such letting, set off against the value of that house at the date of such letting a sum calculated at the rate of one per centum of the valuation of that house for each year of occupation or part thereof by such person prior to the date of such letting. |