View All - 1970 Acts Section No : Acts & Ordinances PREVENTION OF THE AVOIDANCE OF TAXMarginal Notes1. This Act may be cited as the Prevention of the Avoidance of Tax Act, No. 26 of 1970.2. Certain sections of the Monetary Law Act not to apply to currency notes of specified denominations. 3. Surrender of old currency notes. 4. Transmission of declaration to the Commissioner of Inland Revenue. 5. Declaration to the Commissioner of Inland Revenue by persons surrendering old currency notes. 6. Action taken by Commissioner of Inland Revenue on declarations made to him. 7. Restrictive period for the withdrawal of deposits. 8. Relief available to persons who have been refused the payment of any money held in deposit in any scheduled bank to the credit of such person. 9. Special provisions relating to the onus of proof in any action or proceedings in any court. 10. Exemptions by the Central Bank. 11. Offences. 12. Power of Central Bank to call for information. 13. Special provision relating to the Central Bank in its capacity as a scheduled bank. 14. This Act to have retrospective effect. 15. Interpretation.