Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsInterpretation
| 98. In this Part of this Act unless the context otherwise requires- " agricultural premises " means any property or premises which is used or capable of being used wholly or mainly for the purpose of agriculture or horticulture or for any purpose of husbandry including the keeping or breeding of live-stock, poultry, or bees and the cultivation of fruits, vegetables and the like; " business premises " means any premises other than agricultural premises or residential premises; " Compensation Tribunal " means the Compensation Tribunal established under this Part of this Act; " market value", with reference to any premises vested in the Bank, means the price which those premises would have fetched in the open market on the date on which such premises were vested in the Bank; " Minister " means the Minister to whom the subject or function of the People's Bank is assigned by the Prime Minister under section 46 of the Ceylon (Constitution) Order in Council, 1946;"person who was interested", in relation to any premises vested in the Bank, means a person who, immediately before the date on which such premises were so vested, has an interest in such premises as owner, co-owner, mortgagee, lessee or otherwise, whether absolutely for himself or in trust for any other person; " prescribed " means prescribed by regulation made under this Part of this Act; " regulation " means a regulation made by the Minister under this Part of this Act; " residential premises " means any premises for the time being occupied wholly or mainly for the purposes of residence; "spouse", when used with reference to any person, means the husband or wife, as the case may be, of that person and includes, in the case of a marriage by habit and repute or according to custom, any contracting party to such marriage; "year of assessment" has the same meaning as in the Inland Revenue Act, No. 4 of 1963. |