Buddha Sasana Fund Act (No. 35 of 1990)

Sri Lanka Consolidated Acts

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Buddha Sasana Fund Act (No. 35 of 1990) - Sect 3

Board of Governors of the Fund

(1) The administration, management and control of the Fund shall be vested in a Board of Governors constituted as hereinafter provided.

(2) The Board of Governors of the Fund (hereinafter referred to as the " Board ") shall consist of"

	(a) the President of the Republic or any Member of the Cabinet of Ministers nominated by him;

	(b) the Leader of the Opposition of Parliament or his nominee ;

	(c) the Minister appointed under Article 45 of the Constitution to whom the subject of Buddha Sasana has been assigned ;

	(d) the Secretary to the Ministry of the Minister in charge of the subject of Buddha Sasana;

	(e) the Public Trustee ; and

	(f) two other members appointed by the President, each of whom shall, subject to the provisions of subsections (3) and (4), hold office for such period as may be specified in the letter of appointment issued to him by the President.

(3) The President may in his absolute discretion revoke the appointment of any member appointed by him under paragraph (f) of subsection (2).

(4) Any member of the Board appointed under paragraph (f) of subsection (2) may at any time resign from the Board by a letter in that behalf addressed to the President and such resignation shall take effect upon it being accepted by the President in writing.

(5) The Board may regulate the procedure in regard to its meetings and the transaction of business at such meetings.

(6) No act or proceeding of the Board shall be deemed to be invalid by reason only of the existence of a vacancy among its members or any defect in the appointment of a member thereof.

(7) If the President is a member of the Board he shall be the Chairman of the Board. If he is not a member of the Board the person nominated by him under subsection (2) (a) of section 3 shall be the Chairman of the Board.

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