5.
| (1) Where an installment of the surcharge payable for a relevant year or a part of such installment is not paid on or before the dates specified in, section 3 for the payment of that installment, such installment of the surcharge or part thereof, shall be deemed to be in default and-
| | (a) where the surcharge is payable by one person, such person ; and | | |
| | (b) where the surcharge is payable by more than one person or by a partnership, each of such persons or each partner in such partnership, | | |
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| (2) Where any surcharge payable by any person for a relevant year is in default, the defaulter shall, in addition to the surcharge in default, pay as a penalty"
| | (a) a sum equal to five per centum of: the amount in default ; and | | |
| | (b) where any amount in default is not paid before the expiry of thirty days after it has begun to be in default, a further sum equivalent to five per centum of the amount in default in respect of each further period of three months or part of such, period during which it is in default: | | |
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Sri Lanka Consolidated Acts