2.
| (1) This Act shall, subject to the provisions of subsection (2), apply to any person who-
| | (a) under the law for the time being applicable to the imposition of income tax for any year of assessment ending on or before March 31, 1996, in respect of any profits and income which arose, or accrued, on or before March 31, 1996, and who has not furnished a return of income under the provisions of such year of assessment or who has not disclosed such profits or income in any return furnished by him under the provisions of such law for any such year of assessment; or | | |
| | (b) holds any relevant foreign currency outside Sri Lanka. | | |
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| (2) This Act shall not apply to any person in relation to whom any investigation was pending on February 15, 1997 for-
| | (a) any alleged or suspected evasion of any tax payable under, the law for the time being applicable to the imposition of income tax or the Finance Act, No. 11 of 1963 or the Turnover Tax Act, No. 69 of 1981, or the National Security Levy Act, No. 52 of 1991, in respect of any profits and income or turnover, as the case may be, which arose or accrued to, or was derived, by such person on or before March 31, 1996; | | |
| | (b) any alleged or suspected violation, of any provision of the Exchange Control Act or the Prevention of Terrorism (Temporary Provisions) Act, No. 48 of 1979. | | |
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| (3) Every person referred to in subsection (1), not being a person referred to in subsection (2), shall, hereafter in this Act, be referred to as a person to whom this Act applies- |
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Sri Lanka Consolidated Acts