Sri Lanka Consolidated Acts

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Ceylon Railway Daily-Paid Workers Benevolent Association (Incorporation) Act (No. 3 of 1965) - Sect 26

Funds of the Corporation, how to be accounted, paid out and invested

26.
(1) The funds of the Corporation shall be placed in the name of the Corporation at one or more of the local banks, and it shall be lawful for the Committee from time to time to invest such part of such funds as is not required for loans, advances or other current expenses in fixed deposit in one or more of the local banks or in securities of the Government of Ceylon, or in such other manner as the Permanent Secretary may from time to time determine.
(2) All cheques and orders against the said funds shall be signed by the President, the Secretary and the Treasurer, and in the absence of any one of the three officers, the Vice-President may sign in place of such absent officer.

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