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Contents

Part VIII · Finance

47. Sustainable Energy Guarantee Fund

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

There shall be established a fund called the

“Sustainable Energy Guarantee Fund” (in this Act referred to as the “Guarantee Fund”) for the purpose of providing guarantees on behalf of investors who apply for loans to carry on any project relating to energy efficiency.

(2)

There shall be credited to the Guarantee Fund:—

(a)

an initial capital grant of fifty million rupees to be paid out of the Consolidated Fund;

Sri Lanka Sustainable Energy Authority

(b)

an annual premium of not less than 0.5 per centum of the guarantee offered to investors;

(c)

interest, service charges and penalties recovered from investors to whom guarantees are provided;

and

(d)

all such sums of money as may be received from the

Fund of the Authority.

(3)

The amount to be paid as a guarantee and the manner of the guarantee, qualifications required to be entitled to a guarantee and all other matters connected with the management of the Guarantee Fund, shall be as prescribed by the Minister, with the concurrence of the Minister in charge of the subject of Finance.

(4)

The provisions of sections 50 and 51 of this Act shall apply in regard to the audit of accounts of the Gurantee Fund.

Read on from s 48

Part IX

Staff of the Authority

Read on from Part IX

Part X

General

Read on from Part X

Schedules