Betting And Gaming Levy (Amendment)

Link to law: http://www.lawnet.lk/process.php?st=2001Y0V0C7A&hword=%27%27&path=2
Published: 2001

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Betting And Gaming Levy (Amendment)
Betting And Gaming Levy (Amendment)




AN ACT TO AMEND THE BETTING AND GAMING ACT LEVY ACT, NO. 40 OF 1988 AND TO PROVIDE FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.








BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows :-



[11th April

, 2001 ]













Short title.



1.This Act may be cited as the Betting and Gaming Levy (Amendment) Act, No. 7 of 2001.



Amendment of section 2 of Act No.40 of 1988.



2.Section 2 of the Betting and Gaming Levy Act, No.40 of 1988 (hereinafter referred to as the "principal enactment") is hereby amended in subsection (1) of that section, by the substitution for the words "at the respective rates set out in the Schedule to this Act", of the words "equivalent to the respective amounts set out in the Schedule to this Act".



Amendment of section 4 of the principal enactment.



3.Section 4 of the principal enactment is hereby amended by the repeal of subsection (3) of that section and the substitution therefor of the following subsections :





"(3) Where any instalment of the levy is in default and





(a) the default is in respect of an instalment payable in any year commencing on or after April 1, 1988 but prior to April 1, 2001, the defaulter shall, in addition to the instalment in default, pay as penalty





(i) a sum equivalent to ten per centum of the instalment in default; and



(ii) where the instalment in default is not paid before the fifteenth day of the month succeeding the month in which such instalment had begun to be in default, a further sum equivalent to two per centum of the instalment in default in respect of each period ending on the fifteenth day of each succeeding month or part of such period, during which it is in default:



provided however, that the total amount payable as penalty under this paragraph shall, in no case exceed fifty per centum of the instalment in default; and



(b) the default is in respect of an instalment payable in any year commencing on or after April 1, 2001, the defaulter shall in addition to the instalment in default, pay as penalty, a further sum equivalent to thirty three and one third per centum of the instalment in default, in respect of each period ending on the fifteenth day of each month, succeeding the month in which the instalment had begun to be in default or part of such period during which the instalment is in default:



Provided however, that the total amount payable as penalty under this paragraph, shall in no case exceed one hundred per centum of the instalment in default.



(3A) The Commissioner-General may reduce or waive any penalty payable under subsection (3), if the Commissioner - General is satisfied that by reason of any special circumstances in which the default occurred, a reduction or waiver of such penalty would be just and equitable.".



Amendment of section 5 of the principal enactment.



4. Section 5 of the principal enactment is hereby amended in paragraph (c) of subsection (1) of that section, by the substitution for the words and figures "by or under section 43" of the words and figures "by or under section 42 or section 43".



Replacement or the Schedule to the principal enactment



5. The Schedule to the principal enactment is hereby repealed and the following Schedule substituted therefor :



Schedules












Sinhala text to prevail in case of inconsistency



6. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail