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srilawsby aturio
As enacted
Contents

Part I

23. Establishment of the Tourism Development 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 for the purposes of this

Act a Fund to be called the Tourism Development Fund

(hereinafter referred to as “the Fund”) which shall be utilized for the development and promotion of tourism in accordance with the provisions hereinafter set out and any regulations which may be made in that behalf. The Fund shall be managed and administerd by the Authority.

(2)

There shall be paid into the Fund established by subsection (1) —

(a)

one-third of the sum collected by way of

Embarkation Levy in terms of section 2 of the

Finance Act, No. 25 of 2003 ; and

(b)

all such sums of money as are required to be paid into such fund by or under this Act.

(3)

Thers shall be paid out of the Fund—

(a)

all sums of money required to defray any expenditure incurred by any organization or any person in the promotion or development of tourism, in accordance with regulations which may be made in that behalf ; and

(b)

all sums of money as are required to be paid out of such Fund.

(4)

The accounts of the Fund shall be audited in accordance with paragraph (8) of Article 154 of the

Constitution.

(5)

The report of the Auditor-General on the accounts of the Fund shall be placed before Parliament by the Minister.

Read on from s 24

Part II

Read on from Part II

Part III

Read on from Part III

Part IV

Read on from Part IV

Part V

Read on from Part V