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As enacted
Contents

Part VIII · Finance

31. Fund of the Commission

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

(1)

The Commission shall have its own Fund.

(2)

There shall be paid into the Fund of the Commission—

(a)

all such sums of money as may be reasonably required by the Commission to perform its functions and duties under this Act and any other industry Act, voted upon by Parliament during the first year of the establishment of the Commission ;

(b)

all such sums of money as are recovered by the

Commission as levies under industry Acts ;

(c)

all such sums of money as are received by the

Commission in the exercise, performance and discharge, of its powers, duties and functions under this Act or any other industry Act, including fees received by the Commission for the grant or renewal of licences under those Acts ;

Public Utilities Commission of Sri Lanka

(d)

all such sums of money as are received by the

Commission by way of loans, gifts or grants from any source whatsoever ; and

(e)

all such sums of money as are authorized or required to be paid into the Fund by any provisions of this

Act or any other industry Act.

(3)

There shall be paid out of the Fund of the Commission—

(a)

all such sums of money as are required to defray any expenditure incurred by the Commission in the exercise, performance and discharge of its powers duties and functions under this Act or any other industry Act ; and

(b)

all such sums of money as are required or authorized to be paid out of the Fund by any provision of this

Act or any other industry Act.

(4)

The Commission may, with the approval of the

Minister in charge of the subject of Finance, invest such moneys as are not immediately required for its purposes, in such securities as the Commission may consider fit and transfer or sell such securities.

Read on from s 32

Part IX

General

Read on from Part IX

Schedules