Sri Lanka Consolidated Acts

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Motor Transport Act (No. 48 of 1957) - Sect 56

Proportionate payment of compensation, and interest on compensation until date of payment. [ 19, 22 of 1961.]

50.
(1) The amount of compensation to be paid to any person in respect of any property vested in the Ceylon Transport Board shall be proportionate to the interest such person had in such property.
(2) Any compensation payable under this Act in respect of any property vested in or requisitioned by the Ceylon Transport Board, less the total amount of any deductions which may be made from such compensation under section 52, shall carry interest, as from the date on which such property so vested or requisitioned until payment, at such rate as may be determined by the Minister with the concurrence of the Minister of Finance.

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