Sri Lanka Consolidated Acts

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Compulsory Savings Act (No. 6 of 1971) - Sect 20

Interest

20. Every sum paid as an instalment of the contribution payable to the Fund shall, if it lies in deposit for not less than two years, carry in respect of the first two years interest at five per centum per annum and in respect of subsequent years interest at such rate as the Minister may determine. Interest shall accrue from the first day of the month immediately following the month in which the sum was paid to the Commissioner.


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