71. In this Act, unless the context otherwise requires "adhesive stamp" means a stamp which can be pasted and in respect of which an order under section 67 (1) is in force; " approved credit agency" means an approved credit agency as defined in section 3 of the Mortgage Act; " Assessor " means an Assessor of Inland Revenue appointed for the purposes of the Inland Revenue Act, No. 28 of 1979, and includes a Senior Assessor of Inland Revenue appointed for the purposes of that Act; " authorized representative " means any individual
| (1) who is authorized in writing by a person to act on his behalf for the purposes of this Act and who is
| | (a) in any case
| | | (i) a member of the Institute of Chartered Accountants of Sri Lanka ; |
| (ii) an Accountant approved by the Commissioner-General ; |
| (iii) an Attorney-at-Law ; or |
| (iv) an employee regularly employed by that person; or |
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| | (b) in the case of an individual, a relative; | | |
| | (c) in the case of a company, a director or the secretary of that company; | | |
| | (d) in the case of a partnership, a partner in that partnership ; | | |
| | (e) in the case of a body of persons, a member of that body; or | | |
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| (2) who is authorized in writing from time to time, by a person to act on his behalf for the purposes of this Act in respect of such matters as are specified in the authorization and who, being an individual registered as an auditor under the Companies (Auditors) Regulations, is approved by the Commissioner-General ; |
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" bank " includes a banking institution ; " banking institution " has the same meaning as in the Monetary Law Act; " bill of exchange " means a bill of exchange as defined by the Bills of Exchange Ordinance, or any other document entitling or purporting to entitle any person, whether named therein or not, to payment by any other person of, or to draw upon any other person for, any sum of money; " bill of exchange payable on demand " includes
| (a) an order for the payment of any sum of money by a bill of exchange or promissory note, or for the delivery of any bill of exchange or promissory note in satisfaction of any sum of money, or for the payment of any sum of money out of any particular fund which may or may not be available, or upon any condition or contingency which may or may not be performed or happen ; |
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| (b) an order for the payment of any sum of money weekly, monthly, or at any other stated periods; |
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" bill of lading " includes a " through bill of lading " but does not include a mate's receipt; " broker's note " means the note sent by a broker or agent to his principal (except where such principal is acting as broker or agent for a principal) advising him of the sale or purchase on account of such principal, of any goods, stock, share, debenture or marketable security; "chargeable" in relation to an instrument executed or first executed after the date of commencement of this Act, means chargeable with stamp duty under this Act; " cheque " means a bill of exchange drawn on a specified bank and not expressed to be payable otherwise than on demand; " Commissioner-General" means the commissioner-general of Inland Revenue appointed for the purposes of the Inland Revenue Act, No. 28 of 1979, and includes; a Commissioner of Inland Revenue or a Deputy Commissioner of Inland Revenue appointed for the purposes of that Act, and who is authorized either generally or for some specific purpose, by the Commissioner-General to act on his behalf; " company" means any company incorporated or registered under any law in force in Sri Lanka or elsewhere and includes a public corporation ; " conveyance" includes conveyance on sale and every instrument by which property, whether movable or immovable, or any interest in any property, is transferred; "die" includes any plate, type, tool, or implement or a part thereof used under the direction of the Commissioner-General, for expressing or denoting the fact that any stamp duty or penalty has been paid in respect of an instrument, or that on instrument is duly stamped or is not chargeable with any stamp duty; "document" in relation to legal proceedings in any court includes an appointment of attorney, plaint, answer, replication or other pleading, petition, application, affidavit, appointment, summons, judgment, decree, order of any description, award, writ, warrant, inventory, account, mandate, bond or recognizance ; " duly stamped " in relation to an instrument means that the instrument bears an adhesive or impressed stamp of not less than the proper amount, and where such stamp is an adhesive stamp, that such stamp has been affixed and cancelled according to the provisions of this Act; " executed" and " execution", used in relation to an instrument means " signed" and " signature", respectively; " gift" means a transfer by one person to another of any movable or immovable property made voluntarily and without consideration in money or money's worth; " impressed stamp " means a stamp impressed by means of a die and in relation to any instrument chargeable with a stamp duty not exceeding ten rupees, includes stamps impressed by means of a postal franking machine, which is used under a permit issued by the Postmaster-General; "instrument" includes every document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished, or recorded; " marketable security " means; a security which is capable of being sold in any recognized stock market; "money" includes all sums, whether expressed in Sri Lanka or foreign currency ; " policy of insurance " includes,
| (a) any instrument by which one person, in consideration of a premium, engages to indemnify another against loss, damage, or liability arising from an unknown or contingent event; |
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| (b) a life policy, and any policy insuring any person against accident or sickness, and any other personal insurance ; and |
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| (c) any writing evidencing the renewal of, for the purpose of keeping in force, a polity of fire insurance in respect of which, and of the previous renewal thereof, if any, there has not already been paid the stamp duty which would have been chargeable if the policy has originally been granted for a longer term than six months; |
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"power of attorney" includes any instrument empowering a specified person to act for, and in the name of, the person executing it; " promissory note " means a promissory note as defined by the Bills of Exchange Ordinance ; and includes a note promising the payment of any sum of money out of any particular fund which may or may not be available, or upon any condition or contingency which may or may not be performed or happen ; " property" means, movable as well as immovable property ; and includes a right to or any interest in property; " public corporation" means any corporation, board or other body which was or is established by, or under, . any written law other than the Companies Ordinance or the Companies Act, No. 17 of 1982, with funds or capital wholly or partly provided by the Government, by way of grant, loan or otherwise ; " receipt " includes any note, memorandum or writing
| (a) whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received; or |
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| (b) whereby any other movable property is acknowledged to have been received in satisfaction of a debt; or |
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| (c) whereby any debt or demand, or any part of a debt or demand is acknowledged to have been satisfied or discharged ; or |
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| (d) which signifies or imports any such acknowledgement, whether the same is or is not signed with the name of any person ; |
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share certificate " means a certificate or other document evidencing the right or title of the holder thereof or any other person either to any shares, scrip, stock, or debenture stock in or of any incorporated company or other body corporate, or to become proprietor of shares, scrip, stock, or debenture stock in, or of, any such company or body ; " value " with reference
| (a) to any property (other than immovable property which is gifted) and to any date, means the price which in the opinion of the Assessor, that property would have fetched in the open market on that date ; |
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| (b) to any immovable property which is gifted, being immovable property which was acquired by the donor on or before March 31, 1977 means
| | (i) the price which in the opinion of the Assessor that property would have fetched if sold in the open market on March 31, 1977 increased by an amount equal to the cost of the improvements, alterations and additions, if any, made to such property after March 31, 1977 and prior to the date of the instrument by which such property is gifted ; or | | |
| | (ii) the price which, in the opinion of the Assessor, that property would have fetched if sold in the open market on the date of the instrument by which such property is gifted, | | |
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| (c) any immovable property which is gifted, being immovable property which was acquired by the donor after March 31, 1977 means
| | (i) the price which, in the opinion of the Assessor, such property would have fetched if sold in the open market on the date on which such property was acquired by the donor, increased by an amount equal to the cost of the improvements, alterations and additions, if any, made to such property after the date on which the property was acquired by the donor, and prior to the date of the instrument by which such property is gifted; or | | |
| | (ii) the price which, in the opinion of the Assessor, that property would have fetched, if sold in the open market on the date of the instrument by which such property was gifted, | | |
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" write" with its grammatical variations and cognate expressions includes every mode in which words or figures can be expressed upon material. |
Sri Lanka Consolidated Acts