8.
| (1) Every Credit Council shall maintain a local fund to which shall be credited all moneys that may from time to time be allocated to it from the Central Fund for the purpose of granting loans to members and for other approved expenditure and investments, and the recoveries made from members on account of loans granted. |
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| (2) The Department of Credit Councils may require that any sum of money lying to the credit of a local fund as is not required for the purposes of such fund be transferred to the Central Fund. |
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Sri Lanka Consolidated Acts