2. Section 42J of the Land Reform (Special Provisions) Act, No, 39 of 1981 (hereinafter referred to as the "principal enactment") is hereby amended by the repeal of subsection(2D) thereof and by the substitution therefor, of the following subsection:
| "(2D)
| | (i) Where any public company receives any amount as compensation computed ill accordance with the provisions of subsection (2) or subsection (2A) or subsection (2B) , it shall be the duty of such company, notwithstanding anything in the Companies Ordinance or any other law, to distribute such compensation alter meeting its liabilities as are allowed by the Commission as being reasonable and having been incurred bona fide, to the share holders of such company within six months from the date of receipt of the compensation or where such compensation is received in instalments, within six months from the receipt of each instalment. No deduction shall be made by any such company from the amount of such compensation other than the amount of such liabilities as are allowed by the Commission as hereinbefore. provided. | | |
| | (ii) Where the share capital of any such company as is referred to in subsection (1) i8divided into different classes of shares, the distribution of the compensation shall be in accordance with the rights attached to each class of shares. | | |
| | (iii) For the purposes of paragraph (i), the expression" compensation" includes any Interest which has accrued due on such compensation and the expression" liabilities" in relation to a company, does. not include compensation or any other payment to any company for loss of business or to any director, employee or any other servant of any company for loss of office.". | | |
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Sri Lanka Consolidated Acts