5.
| (1) The proprietor of any Assisted school (not being an Assisted training college) which is a Grade I or Grade II school may, at any time before the date specified in the Order made and published under section 3, elect to administer such school as an unaided school and if, before that date, he serves a written notice on the Director to the effect that he has made such an election and specifying the date of such election (such date being a date earlier than the date specified in the Order) the provisions of the proviso to the said section 3 shall apply in the case of such school with effect from the date of such election. |
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| (2) Where notice of an election under subsection (1) has been served on the Director as required by that subsection in respect of any Assisted school, then, with effect from the date of such election, such school shall cease to be an Assisted school and shall be administered as an unaided school. |
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| (3) A proprietor of an Assisted school who has elected in terms of subsection (1) of this section to administer his school as an unaided school may at any time serve notice on the Director that he has revoked such election and from the date on which such notice is received by the Director such school shall he administered in the same manner as if the Director had become the manager of such school in terms of section 4 of this Act. |
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Sri Lanka Consolidated Acts