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Act of Parliament

Local Loans and Development (Amendment) Act 1993

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

Official translation, read from a scanFrom Department of Government Printing's scanned PDF, read by OCR; may contain errors

s 1Short title

This Act may be cited as the Local Loans and Deve-lopment (Amendment) Act, No. 24 of 1993.

s 2Amendment of section 2 of Chapter 404,

Section 2 cf the Local Loans and Development Ordi-mance (hereinafter referred to as the “principal enact-ment”) is hereby amended as follows :—

(1)

by the repeal of subsection (2) of that section and the substitution of the following subsection there-for :—

-

“ (2) The commissioners shall consist of at leas!

thirteen persons all of whom shall be appointed by the Minister, and—

(a)

one of whom shall be the Secretary to the

Ministry of the Minister who shall also be the Chairman thereof

;

(b)

one of whom shall be a public officer nomina-ted, by name or by office, by the Minister in charge of the subject of Finance ;

(c)

eight of whom shall be members of the pro-vincial public services of the respective pro-vinees nominated, by name or by office, by the respective Governors of such provinces

;

(d)

three other persons nominated by the Minis-ter, of whom at least one shall be a person who has had experience in banking”

;

(2)

by the addition, at the end of that section, of the following subsections

:—

“ (4) The commissioners shall meet as often as may be deemed necessary by the Chairman:

Provided however that a meeting of the cornmis-sioners shall be held at least once in every three months,

(5)

The quorum for any meeting of the com-missioners shall be five, of whom at least one shal.

be a commissioner appointed under paragraph (c)

of subsection (2).”.

s 3Amendment of section 3 of the principal enactment

Section 3 of the principal enactment is hereby amend:

ed by the repeal of subsection (2) of that section and the substitution therefor, of the following subsection :—

“ (2) The commissioners may be paid re-muneration at such rates as may be deter-mined by the commissioners, with the appro-val of the Minister, in addition to such travel-ling allowances or other expenses as may be authorized to be paid to them, by regulations made under this Ordinance. ”,

s 4Amendment of section 8 of the principal enaetment

Section 8 of the principal enactment is hereby amend-ed by the repeal of paragraph (b) of subsection (3) of that section and the substitution therefor of the following paragraph :—

“(b) all such sums as may from time to time be ordered by the Minister, by way of contribution to a special fund which shall be called the “Local Loans and

Development Trust Fund ”, and to be established and maintained by the commissioners ; ’,

s 5Replacement of seetion 8 of the principal enactment

Section 9 of the principal enactment is hereby repealed and the following section is substituted therefor :—

“ Purpose

9. The

}

commissioners may, with the for which loans approval of the Minister, grant loans to any ma granted.

local authority or to any body to which a local authority has transferred any of its functions, for the purpose of any work of public utility, which such local authority or body may be authorised by law to under-take including technical assistance. ”.

Locai Loans and Development (Amendment)

3

Act, No. 24 of 1993

s 6Section 33 of the Principal enactment is hereby

Amendment f tion amended as follows :—

33 of the principal

(1)

by the substitution for the definition of “local autho-enactment.

rity” of the following definition :—

“Jocal authority ” means any Municipal Council, ;

Urban Council or Pradeshiya Sabha 75

(2)

by the substitution for the definition of “Minister °

of the following definition :—

‘“ Minister ” means the Minister to whom the sub-ject of the Local Loans and Development

Fund has been assigned and “ Ministry ”

shall be construed accordingly ;’.

s 7In the event of any inconsistency between the pnhea

Sinhala and Tamil texts of this Act, the Sinhala text shall prevail in case of prevail.

inconsis~

tency.