3. Section 160 of the Urban Councils Ordinance is hereby amended by the insertion immediately after subsection (1) of that section of the following new subsections :
| " (1A) In pursuance of the powers under subsection (1), the Council may impose a higher rate on premises used for business or commercial purposes. |
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| (IAA)
| | (a) The Council may, with the approval of the Minister, exempt from the payment of rates all residential premises the annual value of which does not exceed an amount that may be determined by the Council under paragraph (b). | | |
| | (b) In determining the amount of the annual value of residential premises that may be exempted, the Council shall have regard to
| | | (i) the state of development of the town for which the Council is constituted ; |
| (ii) the nature of the services and amenities provided by the Council to residential premises with lesser annual values ; |
| (iii) the loss of reverse that may result from the grant of any exemption and the means proposed by the Council to recover such loss. |
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| | (c) Where any residential premises are exempted under the provisions of paragraph (b) the benefit of such exemption shall accrue to the occupier thereof.''. | | |
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Sri Lanka Consolidated Acts