5.
| (1) Any increase of the rent of any premises in accordance with the provisions of any of the following paragraphs shall be a permitted increase for the purposes of this Act: -
| | (a) The standard rent of any premises the annual value of which does not exceed the relevant amount may be increased by an amount not exceeding ten per centum of such rent: | | |
| | (b) Where the landlord of any premises has, since the date by reference to which the standard rent of the premises is determined for the purposes of this Act, incurred, or hereafter incurs, expenditure on the improvement or structural alteration of the premises (not including expenditure on decoration or repairs), the standard rent per annum may be increased, in the case of such residential premises as were constructed on or before the first day of January, 1969, and such business premises as are assessed at an annual value not exceeding the relevant amount, by an amount calculated at a rate not exceeding six per centum of the amount so expended, and in the case of any residential premises constructed after the first day of January, 1969, and any residential premises the annual value of which exceeds the relevant amount, by an amount calculated at a rate not exceeding seven per centum of the amount so expended: | | |
| | (c) Where the rates levied under any written law in respect of any premises are under the terms of the tenancy payable by the landlord, and the actual amount for the time being payable per annum by way of such rates is in excess of the amount so paid for the year which included the date by reference to which the standard rent of the premises is determined for the purposes of this Act, the standard rent per annum may be increased by an amount not exceeding the amount of such excess. | | |
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| (2) Where the rent of any premises is under the terms of the tenancy payable by the month or the quarter or the half-year, the amount of any permitted increase of the standard rent per annum shall be apportioned accordingly. |
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Sri Lanka Consolidated Acts