3.
| (1) Any person to whom this Act applies may after September 30. 1991, use the whole or any part of his relevant profits and income for any one or more of the following purposes
| | (a) the construction of one or more houses, the internal floor area of each of which (excluding the thickness of the outer walls), does not exceed one hundred End twenty-live square Aires on land, not exceeding one-fortieth part of a hectare in extent and owned by such person : | | |
| | (b) the construction of one or more buildings each consisting of two or more housing units, the internal fleer area of each of which (excluding the thickness of the outer Walls) does not exceed one hundred and twenty-five square meters, on land not exceeding such extent as is approved for the purposes of such construction, by the Urban Development Authority and owned by such person ; | | |
| | (c) the purchase, for occupation as a residence for himself, of any such house as is referred to in paragraph (u), constructed by a qualified person ; | | |
| | (d) the purchase, for occupation as a residence for himself, of any such housing unit as is referred to in paragraph (b) and comprised in a building constructed by a qualified person ; | | |
| | (e) the construction, at a cost not exceeding five million rupees, of one or more buildings each such building being a building which is assessed as a commercial premises for the purposes of levying rates, on land not exceeding such extent as is approved for the purposes of such construction, by the Urban Development Authority and owned by such person ; | | |
| | (f) the renovation, at a cost not exceeding" five million rupees, of a derelict building, being a building which is assessed as a commercial premises for the purposes of levying rates and owned by such person, | | |
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| (2) A person to whom this Act applies and who constructs any such house or building as is referred to in paragraph (a) or paragraph (b) or paragraph (e) of subsection (1) or purchases any such house or housing unit as is referred to in paragraph (a) or paragraph (b) of subsection (1) or renovates any such building as is referred to in paragraph (1) of subsection (1) and completes such construction or renovation, or purchase of such house or housing unit, as the case may be, before October 1, 1994, may, within ninety days of the date of completion of such construction or renovation or the date of such purchase, as the case may be, furnish to the Commission-General
| | (a) a declaration in the Form set out in the Schedule to this Act, setting out the amount of his relevant profits and income that he has used for the purpose of such construction, renovation or purchase, as the case may be ; | | |
| | (b) a certificate issued under section 4 by the Urban Development Authority or a public officer or officer of a local authority authorized in that behalf by the Urban Development Authority, in respect of such construction, renovation or purchase, as the case may be. | | |
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| (3) A person to whom this Act applies who furnishes to the Commissioner-General, the declaration and the certificate referred to in subsection (2) within the period referred to in that subsection, is in this Act, referred to as a " qualified person ". |
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Sri Lanka Consolidated Acts