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9. Fund of the Corporation

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

(1)

The Corporation shall have its own fund and all monies heretofore or hereafter to be received by way of gifts, testamentary dispositions, grants, donations, contributions or fees on behlf of the Corporation shall be deposited to the credit of the Fund of the Corporation in one or more banks as the Committee of Management may determine.

(2)

The Corporation may establish a depreciation fund or a sinking fund for the purpose of rehabilitation, development or improvement of the property of the

Corporation.

(3)

There shall be paid out of the Fund all sums of money to defray any expenditure incurred by the corporation in the exercise, performance and discharge of its powers, duties and functions under this Act.

(4)

The financial year of the Corporation shall be the calendar year.