5.
| (1) The Commissioner shall, on the basis of the current prices at which tea sold at a Colombo tea auction, determine, for the purposes of subsection (2), the price, hereafter in this section referred to as the " assessed price ", which a pound of-
| | (a) any tea produced in Ceylon by the English and Scottish Joint Co-operative Wholesale Society Ltd., or | | |
| | (b) any tea which is not tea referred to in paragraph (a) of this subsection or in subsection (1) of section 2 and which is authorized by a permit issued under this Act to be exported from Ceylon, | | |
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| (2) Before the issue of the permit under this Act authorizing the export from Ceylon of any tea to which subsection (1) applies, there shall be charged, levied and paid in respect of each pound of such tea a tax which shall-
| | (a) where the assessed price of a pound of such tea on the day on which such permit is issued exceeds one rupee and eighty-five cents by not more than one rupee and forty cents, be equal to one-half of that excess, and | | |
| | (b) where such assessed price exceeds one rupee and eighty-five cents by more than one rupee and forty cents, be seventy cents. | | |
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| (3) The person for the time being holding the office of Manager in Ceylon of the English and Scottish Joint Co-operative Wholesale Society Ltd. shall pay the tax under subsection (2) in respect of tea produced by that Society. |
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| (4) The owner of any tea referred to in paragraph (a) of subsection (1) shall pay the tax under sub section (2) in respect of that tea. |
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Sri Lanka Consolidated Acts