12. Debts due by and payable to the vidyalaya

All debts and liabilities of the Vidyalaya existing on the day immediately preceding the date of commencement of this Act, shall be paid by the body corporate hereby

9

Balapitiya Sri Rahularama Purana Viharastha

Samanera Akalpa Sangwardena Bikshu

Vidyalaya (Incorporation)

Act, No. 25 of 2023

constituted and all debts due to and subscriptions and contributions payable to the Vidyalaya on that day shall be paid to the body corporate for the purposes of this Act.