Inland Revenue (Amendment) Act (No. 24 of 1980)

Sri Lanka Consolidated Acts

Amendment of section 14 of the principal enactment

7. Section 14 of the principal enactment is hereby amended in paragraph (a) of that section as follows : -

(a) in sub-paragraph (xi) of that paragraph, by the substitution, for the words " of that right; and ", of the words " of that right; " ;

(b) in sub-paragraph (xii) of that paragraph, by the substitution, for the words " of a life interest.", of the words " of a life interest; " ; and

	" (xiii) the passing of any property, being shares in a quoted public company, on or after November 15, 1979 ; and

(xiv) the transfer-

(a) on or after November 15, 1979 ; and

(b) upon the conversion of a business carried on by an individual, either solely or in partnership with others, into a quoted public company,