Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Business Undertakings (Acquisition) Act (No. 35 of 1971) - Sect 9

Amendment of vesting Order In so far as it relates to any property vested in the Government

9.
(1) Notwithstanding that any movable or immovable property has vested in the Government by virtue of a vesting Order, the Minister of Finance of his own motion or at the request of the relevant Minister may, at any time by subsequent Order (hereafter in this Act referred to as a " divesting Order ") published in the Gazette, amend that vesting Order by the exclusion therefrom of that property,
(2) The following provisions shall apply where any property is excluded from a vesting Order by a divesting Order made under sub-section (1)-
(a) that property 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 that property shall be determined accordingly;
(b) that property shall be deemed to have been and to be property which was requisitioned by a requisitioning Order with effect from the date on which that vesting Order took effect and was derequisitioned by a derequisitioning Order with effect from the date of the amendment of the vesting Order under sub-section (1).


[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]