3. Financial provisions in respect of certain activities of the Government for the financial year 2017

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

(1)

The receipts of the Government during the financial year 2017, from each activity specified in Column I of the

Third Schedule to this Act shall be credited to the account of such activity, but the aggregate of receipts so credited shall not be less than the minimum limit specified in the corresponding entry in Column III of that Schedule. The net surplus, if any, of such activity, shall be paid to the

Consolidated Fund before the expiry of six months after the close of the financial year 2017.

(2)

For the purpose of determining the net surplus under subsection (1), the following charges shall be set off against the revenue of each activity:-

(a)

the working, establishment and other expenses of the activity, whether paid or accrued, properly chargeable to the revenue of the activity; and

(b)

provision to cover the depreciation of the movable and immovable property of the activity.

(3)

The expenditure incurred by the Government during the financial year 2017 on each activity specified in Column

I of the Third Schedule to this Act, shall be paid out of the receipts of the Government from such activity during that financial year, but such expenditure shall not exceed the maximum limit specified in the corresponding entry in

Column II of that Schedule.

(4)

The debit balance outstanding at the end of the financial year 2017 of any activity specified in Column I of the Third Schedule to this Act, shall not exceed the maximum limit specified in the corresponding entry in Column IV of that Schedule and the total liabilities of that activity at the end of that financial year, shall not exceed the maximum limit specified in the corresponding entry in Column V of that Schedule.

Read on from s 4