Bambalapitiya Flats Buddhist Society (Incorporation) Act, No . 4 of 2008 · As enacted
8. Funds of the Corporation
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
The Corporation shall have its own fund and all moneys heretofore or hereafter to be received by way of gift, bequest, donation, subscription, contribution, fees or grants for and on account of the Corporation shall be deposited to the credit of the Fund of the Corporation in one or more banks as the Committee shall determine.
The Corporation may create a depreciation fund, reserve or sinking fund for the rehabilitation, improvement, development and preservation of, the property of the
Corporation.
There shall be paid out of the fund all sums of money which are required to defray any expenditure incurred by the
Corporation in the exercise, performance and discharge of its powers, duties and functions under this Act.
The moneys and property of the Corporation, however.
derived, shall be applied solely towards the promotion of the objects set out in this Act, and no portion thereof shall be paid or transferred, directly or indirectly. by way of dividend, bonus or otherwise to the members of the Corporation.