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srilawsby aturio
As enacted
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24. Fund of the 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 (hereinafter referred to as the “Fund”).

(2)

There shall be credited to the Fund –

(a)

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

(3)

There shall be paid out of the Fund –

(a)

all such sums of money as may be 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 may be required to be paid out of the Fund by or under this Act.

Read on from s 25

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