Sri Lanka Consolidated Acts

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Finance (Amendment) Act (No. 35 of 1997) - Sect 4

Amendment of section 16 of the principal enactment

4. Section 16 of the principal enactment is hereby amended as follows :-
(1) by the repeal of subsection (1) of that section, and the substitution of the following subsection therefor :-
"(1)
(a) The number of prizes to be awarded in a national lottery conducted by the Board, otherwise than under an agreement entered into under subsection (2) of section 14, and the value of each such prize shall be as prescribed.
(b) The number of prizes to be awarded in a lottery conducted by the Board under an agreement entered into under subsection (2) of section 14, and the value of each such prize shall be as specified in such agreement;'.
(2) by the repeal of subsection (3) of that section and the substitution of the following subsection therefor:"
"(3)
(a) The prize winners in every national lottery conducted by the Board, otherwise than under an agreement entered into under subsection (2) of section 14, shall be determined in such manner as may be prescribed.
(b) The prize winners in a national lottery conducted by the Board, under an agreement entered into under subsection (2) of section 14, shall be determined in such manner as may be specified in such agreement.".
(3) by the repeal of subsection (4) of that section, and the substitution, of the following subsection therefor;-
"(4) After the expiration of a period of six months reckoned from the date of determination of the winners in a national lottery conducted by the Board, any prize in such national lottery which has not been granted to the person entitled thereto by reason of the fact that such person is not to be found shall be forfeited, and shall, if such prize relates to a national lottery, conducted by the Board otherwise than under an agreement entered into under subsection (2) of section 14, be paid to the Fund of the Board, and if such prize relates to a national lottery conducted by the Board, under an agreement entered into under subsection (2) of section 14, be disposed of in accordance with the terms of such agreement:


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