18. Fund of the Foundation

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Foundation shall have its own Fund

(hereinafter referred to as “the Fund”).

(2)

All monyes lying to the credit of GVK EMRI

Lanka (Private) Limited (in this Act referred to as the “GEL”), on the day immediately preceding the appointed date shall be transferred to the Fund with effect from the appointed date.

(3)

There shall be credited to the Fund:—

(a)

all sums of money as may be voted from time to time by Parliament, for the use of the

Foundation;

(b)

all such sums as received by the Foundation in the exercise and discharge of its powers, functions and duties under this Act;

(c)

all such sums of money as may be received by the Foundation by way of income, fees, charges, grants, gifts or donations from any source whatsoever whether within or outside

Sri Lanka.

(4)

There shall be paid out of the Fund:—

(a)

all such sums of money as are required to defray any expenditure incurred by the

Foundation in the exercise, performance and discharge of its powers, functions and duties under this Act; and

(b)

all such sums of money as are required to be paid out of the Fund, by or under, this Act.

(5)

The Board shall make rules regarding payment of moneys out of the Fund.

1990 Suwaseriya Foundation

Read on from s 19

Part V

General

Read on from Part V