5.
| (1) The Minister may. taking into consideration the requirements of the petroleum sector and the interests of the national economy, on the recommendation of the Energy Supply Committee, grant a licence to any person or body of persons, to import, export, sell, supply or distribute petroleum |
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| (2)The grant of a licence in terms of subsection (1) shall be subject to such conditions as may be prescribed by the Minister on the advice of the Energy Supply Committee for the purpose of ensuring that the import, export, sale, supply or distribution of petroleum would be properly regulated. |
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| (3)The total number of licences issued in terms of this section shall not in the first instance exceed three : |
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| (4)The Ceylon Petroleum Corporation shall be deemed to be a licensee for the purposes of this Act and the provisions of this Act shall accordingly be read and construed as being applicable to such Corporation |
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Sri Lanka Consolidated Acts