3.
| (1) The receipts of the Government during the financial year, 1997 from each activity specified in column 1 of the Second Schedule to this Act shall be credited to the account of such activity but the aggregate of receipts so credited shall be not less than the minimum limit specified in the corresponding entry in column III of that Schedule The net surplus, if any of such activity shall be paid to the Consolidated Fund before the expiry of six months alter the close of the financial year 1997 |
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| (2) For the purpose of determining the net surplus under subsection (1), the following charges shall be set off against the revenue of each activity :-
| | (a) the working establishment and other expenses of the activity whether paid or accrued, properly chargeable to the revenue of the activity ; and | | |
| | (b) provision to cover the depreciation of the movable and immovable property of the activity. | | |
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| (3)The expenditure incurred by the Government, during the financial year, 1997 on each activity specified in column I of the Second Schedule to this Act shall be paid out of the receipts of the Government from such activity during that financial year but such expenditure shall not exceed the maximum limit specified in the corresponding entry in column II of that Schedule. |
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| (4) The debit balance outstanding at the end of financial year, 1997 of any activity specified in column I of the Second Schedule to this Act shall not exceed the maximum limit specified in the to responding entry in column IV of that Schedule and the total liabilities of that activity at the end of that financial year shall not exceed the maximum limit specified in the corresponding, entry in column V of that Schedule. |
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Sri Lanka Consolidated Acts