17.
| (1) Section 65 of the principal Act is hereby amended as follows: -
| | (a) in sub-section (1), in the proviso to that sub section, by the substitution, for the words " expenses in Ceylon (including commission) and ", of the words " expenses in Ceylon (including commission), the amount of any dividend which under sub-section (5) does not form part of the investment income of the company and ''; | | |
| | (b) in sub-section (4) of that section, by the substitution, for the words Tory the purposes of this section, " investment income of the Life Insurance Fund " means,', of the following: - | | |
| | (c) by the addition, at the end of that section, of the following sub-section: -
| | | " (5) Where a dividend is paid by any resident company to any company carrying on the business of life insurance and either-
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| (2) The amendments made in the principal Act by sub-section (1) of this section shall come into force on April 1, 1969, and shall apply to every year of assessment commencing on or after that date. |
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Sri Lanka Consolidated Acts