16.
| (1) Subject to the provisions of sub-section (3), the right to carry on business as an importer or exporter of gems into or from Ceylon is hereby vested exclusively in the Corporation, and accordingly-
| | (a) no person, other than the Corporation, shall carry on business as an importer or exporter of gems into or from Ceylon; and | | |
| | (b) any licence authorizing such import or export issued to any other person by any authority under any written law prior to the appointed date shall be deemed to be invalid and of no effect. | | |
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| (2) In the exercise of the exclusive right conferred on it by sub-section (1), the Corporation may import or export gems into or from Ceylon not merely on its own behalf, but also for or on behalf of any other person. |
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| (3)The import or export of gems into or from Ceylon by any person, other than the Corporation, shall be deemed not to be a contravention of the provisions of sub-section (1), if, but only if, such import or expert is under the authority, and in accordance with the terms or conditions, of any Order which the Minister of Finance is hereby authorized, from time to time, to make and publish in the Gazette. |
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| (4) No person shall be entitled to compensation for any loss incurred by him, whether directly or indirectly, or by way of business or otherwise, by reason of his licence authorizing him to import or export gems becoming invalid and of no effect by virtue of the operation of the preceding provisions of this section. |
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| (5) Any person who, even on one occasion only, imports or exports any gem into or from Ceylon shall, for the purposes of this Act, be deemed to carry on the business of an importer or exporter, as the case may be, of gems into or from Ceylon. |
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| (6) The import or export of gems into or from Ceylon by any person through the Corporation shall be deemed not to be a contravention of the provisions of sub-section (1). |
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Sri Lanka Consolidated Acts