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As enacted
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Contents

Part IV · Finance

20. The Fund of the Institute

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The Institute shall have its own fund (hereinafter referred to as the “Fund”).

(2)

All moneys lying to the credit of CGTTI, on the day immediately preceding the appointed date shall be transferred to the Fund with effect from the appointed date.

(3)

There shall be paid into the Fund of the Institute –

(a)

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

Institute;

(b)

all such sums of money as may be received by the Institute in the exercise, performance

Ceylon German Technical Training Institute and discharge of its powers, duties and functions; and

(c)

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

(4)

There shall be paid out of the Fund of the Institute –

(a)

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

Institute in the exercise, performance and discharge of its powers, duties and functions 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.

Read on from s 21

Part V

General

Read on from Part V