19.
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(1) Where a Contractor requires any movable or immovable property for petroleum operations conducted, or , proposed to be conducted, by him under a Petroleum Resources Agreement or a Development License as the case may be and he notifies the PRDC of such requirement, such movable or immovable property shall be deemed to be properly required for the purposes of the business of the PRDC, and may be acquired by the Government and made available to the Contractor, provided the PRDC considers such acquisition essential, having regard to the circumstances of the case,
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(2) Any sum payable by the PRDC for acquisition of any property referred to in subsection (1) shall be paid by the Contractor and such sum shall be calculated in such manner as may be prescribed. |
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Sri Lanka Consolidated Acts