Sri Lanka Consolidated Acts

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Credit Councils (Amendment) Act (No. 38 of 1981) - Sect 4

Replacement of section 4 of the principal enactment

4. Section 4 of the principal enactment is hereby repealed and the following section Substituted therefor:"
4.
(1) The affairs of a Credit Council shall be administered by a Committee of Management consisting of a Chairman and not more than twenty-one representatives elected on the basis of five representatives for the first fifty members and one representative for each additional fifty members or part thereof:
(2)
(a) The head of the department or an officer of the department nominated by the head of the department shall be the Chairman of the Committee of Management of a Credit Council established for that department.
(b) The head of the department shall be responsible for the supervision of the activities of a Committee of Management of a Credit Council established for that department and for the proper maintenance of records and accounts of such Credit Council.
(c)
(3) The Minister may, if he considers it expedient to do so, remove any member of the Committee of Management of a Credit Council for reasons of mismanagement, fraud or negligence in the carrying out of his duties or for failure to comply with any direction. Such removal shall not be called in question in any court.
(4)
(a) The Minister may, if he considers it expedient to do so, by Order published in the Gazette, dissolve the Committee of Management of a Credit Council with effect from such date as may be specified therein, for reasons of mismanagement, fraud or negligence in the carrying out of its duties or for failure to comply with any direction. The Order made by the Minister shall not be called in question in any court.
(b) Where any Order is made under paragraph (a), the Director of Credit Councils shall determine the period within which the election of a new Committee of Management shall take place.
(5) Any vacancy which may occur during the term of office of a Committee of Management, may be filled by nomination made by the Director of Credit Councils. The number of members so nominated shall, at no time exceed one-half of the total number of members of such Committee. A member nominated to such Committee shall hold office for the unexpired part of the term of office of such Committee".

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