Land Acquisition (Amendment) Act (No. 13 of 1986)

Land Acquisition (Amendment) Act, No. 13 of 1986 [Certified on 22nd April, 198’61 L.D.-0.52/84. . AN ACT TO AMEND I-HE LAND ACQUISITION .ACT E BE it enacted by the Parliament of the Democratic Sociali$t a Republic of Sri Lanka as follows :-1. This Act may be cited as the Land Acquisition Short title. ,(Amendment) Act, No. 13 of 1986. 2. Section 45 of the Land Acquisition Act is hereby Amendment i amended in subsection (3) thereof, by the substitution, for of sectioq 45 ; the words “if it does not fall within such street lines or of Chapter 450. building limit, “, of the following :-“ if it does not fall within such street lines or building limit : Provided that the acquiring officer shall, notwithstand-ing anything in this Act, tender and make payment of compensation in respect of that portion of land in the following manner :-( a) he shall forthwith on the making of an award under section 17 in respect of that portion, pay to the persons entitled to compensation according to that award in the proportions in which such compensa-tion has been apportioned to such persons by that award, cash in an amount equal to-( i) the market value of such portion of land on March 31, 1978 ; or (ii) the market value of such portion of land on the date on which the street lines or building limits within which such portion is situated, were defined, whichever date is later ; and (b) the difference between the market value of that portion of land on the date on which a notice under section 7 was published in respect thereof and the amount paid under paragraph (uJ shall be paid to the persons entitled to compensation according to the award made under section 17 in the proportions in which such compensation has been apportioned to such persons by that award, in the form of Government bonds encashable after ten years and carrying interest at the current rate of interest payable on mediumiterm Government bonds issued by the Central Bank of Sri Lanka. “. A;O89466--8,300 (86103)