Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Foreign Exchange (Amnesty) Act (No. 32 of 1993) - Sect 2

Persons to whom this Act applies

2.
(1) This Act shall, subject to the provisions of subsection (2), apply to any person who holds any relevant foreign currency outside Sri Lanka and who
(a)
(i) remits, through a commercial bank, such currency to Sri Lanka on or after November 12, 1991, but on or before December 31, 1993 ; or
(ii) brings such currency to Sri Lanka upon his entering Sri Lanka at an approved Port of entry, on or after November 12, 1991, but on or before March 5, 1993, and makes a declaration in respect of such currency under the Customs Ordinance; and
(b) deposits the currency so remitted or brought, in a designated foreign currency, in any foreign currency account, opened in his name in any commercial bank in Sri Lanka-
(2) This Act shall not apply to any person in relation to whom any investigation was pending on November 12, 1991, for
(i) any alleged or suspected evasion of any tax payable under the law for the time being applicable to the imposition of income tax or the Finance Act, No. 11 of 3963 or the Turnover Tax Act, No. 69 of 1981, in respect of any profits and income or turnover, as the case may be, which arose or accrued to, or was derived, by such person on or before November 12, 1991; or
(ii) any alleged or suspected violation, of any provision of the Exchange Control Act or the Prevention of Terrorism (Temporary Provisions) Act, No. 48 of 1979.
(3) Every person referred to in subsection (1), not being a person referred to in subsection (2), shall, hereafter in this Act, be referred to as "a person to whom this Act applies ".


[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]