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| Finance (Amendment) |
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AN ACT TO AMEND THE FINANCE ACT, NO. 38 OF 1971.
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Be it Enacted by the Parliament of the Democratic socialist Republic of Sri Lanka as follows.
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[23rd March
, 1983 ]
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Short title.
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1. This Act may be cited as the finance (Amendment) Act. No. 14 of 1983.
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Replacement of section 29 of Act No. 38 of 1971.
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2. Section 29 of the Finance Act, No. 38 of 1971, as amended by Act No. 7 of 1974 (hereinafter referred to as the “principal enactment”) is hereby repealed and the following section substituted therefore : –
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“Levy of penalty for failure to pay licence fee on due date.
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29. Notwithstanding any of the provisions of the Motor Traffic Act, where payment of any licence fee due under any regulation made under that Act is not paid in full on or before the date on which such fee falls due for payment under that Act, or under any Notification made under section 28A, there shall be levied and collected a penalty
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(a) amounting to ten per centum of the amount of such licence fee, if it is paid in full after the date on which such licence fee fell due for payment but before the expiration of six months from that date ;
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(b) amounting to twenty per centum of the amount of such licence fee, if it is paid in full after the expiration of six months from the date on which such licence fee fell due for payment but before the expiration of twelve months from that date;
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(c) amounting to thirty per centum of the amount of such licence fee, if it is paid in full after the expiration of twelve months from the date on which such licence fee fell due for payment.”.
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Retrospective effect of amendment
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3. The amendment made to the principal enactment by section 2 of this Act shall be deemed for all purposes to have come into operation on January 1, 1982, and accordingly, where any penalties have been levied and collected between January 1, 1982 and the date of commencement of this Act, at the rates set out in section 29 of the principal enactment as amended by section 2 of this Act, such penalties shall be deemed to have been lawfully levied and collected under the principal enactment as amended by this Act.
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