Common Amenities Board (Amendment) Act 2003 · As enacted
20. Replacement of section 20 of the principal enactment
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
Section 20 of the principal enactment is hereby repealed and the following subsection substituted therefor :—
20. (1) The Minister in charge of the subject of Finance shall, guarantee the repayment of the principal of, and the payment of the interest on, any sum due on debentures issued under this Act.
Any sum required for the fulfillment of a guarantee provided under subsection (1)
may, with the prior approval of the Parliament, be paid out of the Consolidated Fund.
“Government guarantee.
“Protection for action subject to Article 126
of the
Constitution.
Any sum paid out of the Consolidated
Fund in fulfillment of a guarantee provided under subsection (1) shall be repaid, together with interest thereon, at such rates as the
Minister in charge of the subject of Finance may determine with the concurrence of the Minister, by the Authority, in such manner and over such period as the Minister in charge of the subject of Finance may with such concurrence determine.
Where any sum is paid out of the
Consolidated Fund in fulfillment of a guarantee provided under subsection (1), the Minister in charge of the subject of Finance shall forthwith lay before Parliament a statement that such sum has been so paid.”.