6. The following new sections are hereby inserted immediately after section 14 and shall have effect as sections 14A and 14B of the principal enactment :
| 14A. (1) There shall be charged, levied and paid a cess at such rates as may be specified by the Minister by Order published in the Gazette on every purchase and sale of securities recorded in a licensed stock exchange or notified to it under its rules by both the purchaser and the seller. Different rates may be specified in respect of different classes of securities. |
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| (2) The cess imposed under this section shall be in addition to any other tax or cess levied under any, other written law. |
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| 14B. (1) There shall be established a fund called the Cess Fund to which shall be credited the proceeds of the cess imposed under section 14A. |
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| (2) There shall be paid out of the Cess Fund such sums as may be authorised by the Commission for the purpose of -
| | (a) developing the securities market: | | |
| | (b) enhancing monies lying to the credit of the Compensation Fund established under section 38 ; and | | |
| | (c) exercising, performing and discharging the powers, duties and functions of the Commission for the purpose of achieving its objects. | | |
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| (3) The money lying to the credit of the Cess Fund may be invested by the Commission in such manner as may be .determined by the Commission. ". |
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Sri Lanka Consolidated Acts