17.
| (1) Where any land or any interest in any land in any designated area is required by the Authority for any of its purposes, and the Minister, by Order published in the Gazette, approves of the proposed acquisition, that land or interest in any land, it shall be deemed to be required for a public purpose and may accordingly be acquired under the Land Acquisition Act and be transferred to the Authority. |
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| (2) In any case where any land or any interest in any land in the designated area is to be acquired under the Land Acquisition Act for any purpose of the Authority and public notice of the intention to acquire that land or interest is published as required by that Act at any time within the period of three years of the date of commencement of this Act, the following provisions shall apply for the purpose of determining the amount of compensation to be paid in respect of that land or interest, notwithstanding anything to the contrary in that Act :-
| | (a) the market value of the land shall be deemed to be the market value the land would have had on the date of such Order if it then was in the same condition, as it is at the time of acquisition, increased by a reasonable amount on account of bona fide improvements, if any, effected to such land after such date ; | | |
| | (b) in ascertaining the market value of the land at the date of such Order, no account shall be taken of any benefit or increase in value which may have accrued, or any expectation of benefit or increase in value likely to accrue, directly or indirectly, from any work of development or other operation of the Authority in pursuance of this Act. | | |
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| (3) Any sum payable as compensation for the acquisition of any land or interest in any land under subsection (1) for the Authority, shall be paid by the Authority. |
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Sri Lanka Consolidated Acts