8. The following new sections are inserted immediately after section 14 and shall have effect as sections 14A and 14B of the principal enactment:
| 14A.
| | (1) The board of directors may create and issue debentures and stock, and the debentures and stock so created and issued shall in this Act be referred to as " Development Finance Corporation of Ceylon Debentures" and " Development Finance Corporation of Ceylon Stock", respectively. | | |
| | (2) " Development Finance Corporation of Ceylon Debentures" and " Development Finance Corporation of Ceylon Stock" shall be issued, transferred, dealt with, redeemed and cancelled, in accordance with such terms and conditions as may be determined by the board of directors. | | |
| | (3) The Government may guarantee the repayment of the principal sum, and the payment of the interest on any Development Finance Corporation of Ceylon Debentures, and on any Development Finance Corporation of Ceylon Stock, related and issued by the board of directors. | | |
| | (4) Any sum required for the fulfillment of any guarantee provided under subsection (3) shall be paid out of the Consolidated Fund. | | |
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| 14B. The Minister in charge of the subject of Finance shall as soon as possible after the end of each financial year, cause to be laid before Parliament, the report on the statement of accounts of the Corporation and a statement of
| | (a) every loan raised by the Corporation from the International Bank for Reconstruction and Development or from any other international or foreign organisations approved by the Government; and | | |
| | (b) every guarantee given by the Government, under section 14 or 14A, during the course of that financial year.'. | | |
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Sri Lanka Consolidated Acts