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srilawsby aturio
As enacted
Contents

Part VI · Finance

156. Cess Fund

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

(1)

There shall be established a fund called the “Cess

Fund” to be administered by the Commission to which shall be credited the proceeds of the cess imposed under section 155.

(2)

The monies lying to the credit of the Cess Fund shall only be utilized for the purpose of –

(a)

developing the securities market;

(b)

enhancing monies lying to the credit of the

Compensation Fund or the Fund of the Commission established under this Part;

(c)

meeting all expenditure incurred by the

Commission in the management, administration, and operation of the Commission in the exercise, performance and discharge of its duties and functions;

(d)

granting loans for housing, educational, health and transport purposes to the staff of the Commission as the Commission deems appropriate;

(e)

to make contributions to pension and provident funds and other schemes established for the benefit of the Director General and its officers and servants and their dependents and nominees; and

(f)

to defray the costs of study, in Sri Lanka or abroad of the officers and servants of the Commission who are of proven merit as determined by the

Commission.

(3)

Any excess money lying to the credit of the Cess Fund may be invested by the Commission in such manner as may be determined by the Commission for the purpose of developing the Cess Fund.

Read on from s 157

Part VII

General

Read on from Part VII