3.
| (1) The receipts of the Government during the financial year, 1994, from each activity specified in column 1 of the Second Schedule to this Act shall be credited to the account of such activity, and 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 after the close of the financial year, 1994. |
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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, 1994, 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 the financial year, 1994, of any activity specified in column I of the Second Schedule to this Act shall not exceed the maximum limit specified in the corresponding 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