4. The following new sections are hereby inserted immediately after the new heading to Chapter VIII of the principal enactment, and shall have effect as sections 43A and 43B of that enactment:"
| 43A.
| | (1) Every registered the society shall cause proper accounts of the income and expenditure, assets and liabilities and of all other transactions of the society to be kept. | | |
| | (2) Every registered society shall prepare an annual statement of accounts and statistics relating to the activities of the society, as may be required by the Registrar or any person authorized by him. Such statement of accounts shall be submitted to the Registrar or other person authorized by him within three months of the close of the financial year to which it relates. | | |
| | (3) Where a registered society fails to comply with any of the provisions of this section every member of the Committee of such society shall be guilty of an offence, and shall on conviction after summary trial before a Magistrate be liable to a fine not exceeding two thousand rupees: | | |
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| 43B.
| | (1) Every registered society shall prepare a budget in respect of every financial year,. setting out projections of revenue, expenditure both recurrent and capital, financial and cash resources, investments of funds, budgeted profit and loss accounts, income and expenditure accounts and balance sheets pertaining to that year. | | |
| | (2) Such budget shall be presented to the general body of the society for its approval not later than two months prior to the commencement of the financial year to which it relates. | | |
| | (3) A copy of such budget shall be transmitted to the Registrar one month prior to the commencement of the financial year to which it relates. | | |
| | (4) The form and manner in which the budget shall be prepared and the minimum information that it should contain, shall be as determined by the Registrar. | | |
| | (5) The Minister may where he considers it expedient to do so having regard to the membership of a registered society and its income and expenditure by special or general order exempt any society from the requirements of this section.". | | |
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Sri Lanka Consolidated Acts