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srilawsby aturio
As enacted
Contents

Part III · Finance

20. The Fund of Institute

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

(1)

The Institute shall have its own Fund.

(2)

There shall be credited to the Fund of the Institute all sums of money received by the Institute in the exercise, discharge and performance of its powers, functions and duties.

(3)

The Council may invest moneys of the fund in any securities issued or guaranteed by the Government of

Sri Lanka.

(4)

The Council may maintain, in any approved Bank or

Banks in Sri Lanka, Call, Current, Savings or Deposit

Accounts.

(5)

All sums of money required to defray any expenditure incurred by the Institute in the exercise, performance and discharge of its powers, duties and functions shall be charged on the Fund.

Read on from s 21