Sri Lanka Consolidated Acts

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Customs (Amendment) Act (No. 83 of 1988) - Sect 10

Replacement of section 17 of the principal enactment

10. Section 17 of the principal enactment is hereby repealed and the following section substituted therefor:
17.
(1) All duties of customs, as well as all penalties and forfeitures incurred under this Ordinance, shall be paid and received in the currency of the Republic of Sri Lanka and according to the units of measurement of the Republic.
(2) For the purpose of subsection (1), conversion of foreign currency values to the currency values of the Republic of Sri Lanka shall be made in accordance with the rates of exchange as determined by the Principal Collector and published from time to time having regard to the parity rates as are specified by the Central Bank of Sri Lanka.
(3) The produce of all duties of customs shall be paid by the Collector into the Consolidated Fund of the Republic of Sri Lanka ".

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