4.
| (1) The standard rent per annum of any residential premises the first assessment of the annual value of which was made in respect of any period commencing on a day not later than the first day of January, 1969, and the annual value of which does not exceed the relevant amount, and of any business premises 'the annual value of which does not exceed the relevant amount, means-
| | (a) the amount of the annual value of such premises as specified in the assessment in force during the month of November, 1941, or if the assessment of the annual value of such premises is made for the first time after that month, the amount of such annual value as specified in such first assessment; or | | |
| | (b) if the rates levied in respect of such premises are, under the terms of the tenancy, payable by the landlord, the aggregate of the amount determined under paragraph (a) and of the amount payable per annum by way of rates in respect of such premises for the year 1941 or, as the case may be, for the year in which such first assessment is made. | | |
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| (2) The standard rent per annum of any residential premises the first assessment of the annual value of which was made in respect of any period commencing on a day not later than the first day of January, 1969, and the annual value of which exceeds the relevant amount but does not exceed two hundred per centum of the relevant amount, means the aggregate of-
| | (a) the amount of the annual value of such premises as specified in the assessment in force on the first day of January, 1969, increased by a sum equal to twenty-five per centum of such annual value; and | | |
| | (b) the amount payable per annum by way of rates in respect of such premises for the year 1969. | | |
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| (3) The standard rent per annum of any residential premises the first assessment of the annual value of which was made in respect of any period commencing on a day not later than the first day of January, 1969, and the annual value of which exceeds two hundred per centum of the relevant amount, means the aggregate of-
| | (a) the amount of the annual value of such premises as specified in the assessment in force on the first day of January, 1969, increased by a sum equal to fifty per centum of such annual value; and | | |
| | (b) the amount payable per annum by way of rates in respect of such premises for the year 1969. | | |
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| (4) The standard rent per annum of any residential premises the first assessment of the annual value of which was made in respect of any period commencing on a day after the first day of January, 1969, means the aggregate of-
| | (a) the amount of the annual value of such premises as specified in such first assessment; and | | |
| | (b) the amount payable per annum by way of rates in respect of such premises for the year in which such first assessment was made. | | |
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| (5) Notwithstanding the preceding provisions of this section-
| | (a) where any premises the annual value of which does not exceed the relevant amount are first assessed or first separately assessed after the first day of January, 1949; or | | |
| | (b) where any residential premises the annual value of which exceeds the relevant amount are first assessed or first separately assessed after the first day of January, 1969; or | | |
| | (c) where the annual value on the first day of January, 1969, of any residential premises the annual value of which exceeds the relevant amount was as specified in an assessment made-
| | | (i) prior to the first day of January, 1964; or |
| (ii) when such residential premises were not let to a tenant; or |
| (iii) when such residential premises were used as business premises, |
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| (6) In the case of any premises to which the provisions of sub-sections (1), (2), (3) and (4) do not apply, the standard rent per annum of the premises means such rent as may be fixed by the board on application made either by the landlord or the tenant for the time being of such premises. |
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| (7) The standard rent of any premises per month or per quarter or per half-year shall be determined in proportion to the standard rent of the premises per annum. |
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Sri Lanka Consolidated Acts