2. The following new section is hereby inserted immediately after section 42L, and shall have effect as section 42LL, of the Land Reform Law, No. 1 of 1972 as amended by Law No, 39 of 1975:-
| 42LL .Notwithstanding anything to the contrary in section 5 of the Companies (Special Provisions) Law, No. 19 of 1974, or in the preceding provisions of this Law, every estate land owned or possessed by a company (whether such company is a public or a private company) on the date on which this Part of this Law comes into operation, being estate land which was transfered, on or after June 19, 1974, to such company or to a company recognized as an " existing company " for the purposes of the Companies (Special Provisions) Law, No. 19 of 1974, or to a company incorporated under the Companies Ordinance, by a company registered or incorporated outside Sri Lanka shall be deemed, for the purposes of this Part of this Law, to be estate land owned or possessed by a public company on the date of coming into operation of this Part of this Law, and accordingly, every such estate land shall vest in the Commission on the date of coming into operation of this Part of this Law.'. |
|
|
Sri Lanka Consolidated Acts