Land (Restrictions on Alienation) (Amendment) Act No. 21 of 2018

PARLIAMENT OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA LAND (RESTRICTIONS ON ALIENATION) (AMENDMENT) ACT, No. 21 OF 2018 Printed on the Order of Government [Certified on 30th of July, 2018] PRINTED AT THE DEPARTMENT OF GOVERNMENT PRINTING, SRI LANKA TO BE PURCHASED AT THE GOVERNMENT PUBLICATIONS BUREAU, COLOMBO 5 Price : Rs. 8.00 Postage : Rs. 15.00 Published as a Supplement to Part II of the Gazette of the Democratic Socialist Republic of Sri Lanka of August 03, 2018 This Act can be downloaded from www.documents.gov.lk Land (Restrictions on Alienation) (Amendment) Act, No. 21 of 2018 1 [Certified on 30th of July, 2018] L.D.—O. 11/2018 AN ACT TO AMEND THE LAND (RESTRICTIONS ON ALIENATION) ACT, NO. 38 OF 2014 BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows:— 1. This Act may be cited as the Land (Restrictions on Alienation) (Amendment) Act, No. 21 of 2018 and shall be deemed to have come into operation on April 1, 2018. 2. Section 3 of the Land (Restrictions on Alienation) Act, No. 38 of 2014 (hereinafter referred to as the “principal enactment”) is hereby amended in subsection (1) — (a) by the repeal of paragraph (b) of that subsection and the substitution therefor of the following paragraph:— “(b) a condominium parcel specified under the Apartment Ownership Law: Provided that, the entire value shall be paid upfront through an inward foreign remittance prior to the execution of the relevant deed of transfer;”; (b) in paragraph (h) of that subsection by the substitution for the words “transfer of such land.” of the words “transfer of such land; and”; (c) immediately after paragraph (h) of that subsection by the addition of the following new paragraph:— “(i) any land, the title of which is transferred on or after April 1, 2018, to a company Short title and date of operation. Amendment of section 3 of Act, No. 38 of 2014. 2 Land (Restrictions on Alienation) (Amendment) Act, No. 21 of 2018 referred to in paragraph (b) of subsection (1) of section 2, listed in the Colombo Stock Exchange.”. 3. Section 5A of the principal enactment is hereby amended — (a) by the substitution for the words and figures “January 8, 2017.” of the words and figures “January 1, 2016.”; (b) in the marginal note thereof, by the substitution for the words and figures “January 8, 2017.” of the words and figures “January 1, 2016.”. 4. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail. Sinhala text to prevail in case of inconsistency. Amendment of section 5A of the principal enactment. Land (Restrictions on Alienation) (Amendment) Act, No. 21 of 2018 3 English Acts of the Parliament can be purchased at the “PRAKASHANA PIYASA”, DEPARTMENT OF GOVERNMENT PRINTING, NO. 118, DR. DANISTER DE SILVA MAWATHA, COLOMBO 8.