2.
| (1) The Minister of Finance of his own motion or at the request of any other Minister-
| | (a) may direct in writing the Secretary to the Treasury to acquire on behalf of the Government by agreement any such business undertaking as shall be specified in such direction; or | | |
| | (b) may, by Order (hereafter in this Act referred to as a " primary vesting Order ") published in the Gazette, vest in the Government with effect from such date (hereafter in this Act referred to as the " primary vesting date ") as shall be specified in the vesting Order any such business undertaking as shall be so specified. | | |
|
|
| (2) Where any business undertaking is acquired by the Government by agreement or is vested in the Government by a primary vesting Order, the Government shall, with effect from the date of transfer or the primary vesting date, as the case may be, have absolute title to such business undertaking free from all encumbrances. |
|
| (3) A primary vesting Order shall be laid before the House of Representatives within sixty days of the publication of the vesting Order in the Gazette, and if Parliament is not in session, within fifty days of the commencement of the session next ensuing, by a motion that such Order be approved. |
|
| (4) Subject to the provisions of sub-section (5), a primary vesting Order shall be final and conclusive and shall not be called in question in any court whether by way of writ or otherwise. |
|
| (5) Where the House of Representatives refuses to approve a primary vesting Order made in respect of any business undertaking, that undertaking shall be deemed never to have vested in the Government by virtue of that vesting Order and any question which may arise as to any right, title or interest in or over such undertaking; shall be determined accordingly. |
|
|
Sri Lanka Consolidated Acts