Sri Lanka Consolidated Acts

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Finance Act (No. 11 of 1963) - Sect 74

Prohibition of act which diminishes the value of any premises to be vested in the Bank under this Part of this Act

94.
(1) Where any premises have been inspected by any person authorized in that behalf by the Chairman of the Board of Directors of the Bank for the purpose of assessing the value of such premises with a view to acquiring such premises under the provisions of this Part of this Act, such Chairman may by written notice given in the same manner as a notice under section 93, prohibit the owner or occupier of such premises from committing or permitting the commission of any damage to those premises or to any plantation, building or other structure on those premises, or any other act which will diminish the value of those premises.
(2) Where it is decided not to vest in the Bank by vesting Order made under the provisions of this Part of this Act any premises in respect of which a notice has been given to any person under subsection (1), the Chairman of the Board of Directors of the Bank shall forthwith cancel that notice and give written information of the cancellation to that person.
(3) A person who contravenes a notice issued to him under subsection (1) shall be guilty of an offence and shall, on conviction after summary trial before a Magistrate, be liable to a fine not exceeding five hundred rupees.


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