26. From and after the appointed date, the Committee may where it considers it necessary and expedient so to do in the due discharge of its functions
| (a) exercise one or more of the rights vested in the Petroleum Corporation established by the Ceylon Petroleum Corporation Act. under sections 5B, 5C, 5D, and 34A ; or |
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| (b) exercise any one or more of me powers or special powers conferred on the Minister or the Board of Directors as the case may be. under sections 5B, 5E 5F, 5G, 5H, 5I and 42 of the aforesaid Act, |
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and where the Committee exercises such rights or powers, the Corporation, the Minister or the Board of Directors as the case may be, shall not exercise any power under those sections so long as this Act is in operation and any reference to the "Corporation", "Board of Directors" or the "Minister", as the ease may be in such sections shall unless the context otherwise requires, be read and construed as a reference to the "Committee". |
Sri Lanka Consolidated Acts