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

This Act amends Land (Restrictions on Alienation) Act, No. 38 of 2014. Amendments deal with administrative and legal proceedings. In particular, establishes that 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 in paragraph (h) of that subsection by the substitution for the words “transfer of such land.” 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 referred to in paragraph (b) of subsection (1) of section 2, listed in the Colombo Stock Exchange.”. 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.”.