Board of Directors of the Mahaweli Cultural Foundation Trust (Incorporation) Act 2009 · As enacted
5. Fund 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
(hereinafter referred to as the “Fund”) and all moneys 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 Corporation in one or more banks as the Board of Directors shall determine.
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Board of Directors of the Mahaweli Cultural
Foundation Trust (Incorporation)
Act, No. 27 of 2009
All moneys lying to the credit of the Trust in any Bank or in any other institution, on the day immediately preceding the date of commencement of this Act, shall be transferred to the Fund of the Corporation with effect from the date of commencement of this Act.
The Corporation may establish a depreciation fund or a sinking fund for the purpose of rehabilitation, development or improvement of the property of the Corporation.
All expenses borne by the Corporation in the exercise and discharge of the powers and functions of the Corporation shall be paid out of the Fund.