Sri Lanka Consolidated Acts

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Centre For Manthinda Social Services And Vocational Training (Incorporation) Act (No. 50 of 1991) - Sect 9

Fund of the Corporation

9.
(1) The Corporation shall have its own fund and all moneys received by way of gift, testamentary disposition, transfer, donation, contributions or fees shall be deposited in the name of the Corporation in one or more banks as may be determined by the Committee of Management.
(2) The Corporation may establish any depreciation fund, reserve or sinking fund for the purpose of rehabilitation, development and improvement of the property of the Corporation.
(3) All expenses incurred by the Corporation in exercising and discharging it's powers and functions shall be paid out of the Fund.


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