121.
| (1) Where a Pradeshiya Sabha is satisfied that it is in the public interest that any private fair should be either
| | | (b) taken over by the Pradeshiya Sabha and maintained as a private fair, | | |
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| (2) Where any private fair is directed by Pradeshiya Sabha to be discontinued. the compensation payable. unless otherwise settled by agreement, shall be the difference between the value of the premises if used as a fair under this Act, and the value of the same premises if used, not as a fair but for any other purpose to which similar premises in the same locality are or might he put to the best advantage, together with an allowance in respect of the cost of adapting for any such purpose the buildings used for the fair. |
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| (3) Where any private fair is taken over by a Pradeshiya Sabha to be maintained as a public fair, the compensation payable shall be the value of the premises when used as a private fair under this Act. |
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| (4) In estimating value of the premises used as a fair under this Act, regard shall be had to the depreciation likely to occur in the value of such premises in the event of a public fair or a new private fair being established in the same neighborhood. |
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Sri Lanka Consolidated Acts