8.The Board -
| (a) shall receive all sums paid under this Act as contributions to, and the income from the investment of moneys of the Fund and shall, credit such sums and income to the Fund ; |
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| (b) shall have custody of the moneys of the Fund ; |
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| (c) shall pay to the persons certified by the Board, the benefits to which such persons are entitled under this Act; |
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| (d) may invest such of the moneys of the Fund as are not immediately required for the purposes of this Act in such shares or securities as the Board may consider fit and may sell such shares and securities ; |
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| (e) shall maintain a general account in respect of the Fund and a separate account (in this Act referred to as the" individual account") in respect of each member of the Fund ; |
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| (f) shall cause the books of accounts relating to the Fund to be balanced as on the thirty-first day of December in each year ; |
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| (g) shall cause to be prepared in respect of the Fund for each year, a statement of receipts and payments, a statement of income and expenditure, a statement of assets and liabilities and a statement of investments showing the face value, purchase price and market value of each of the investments; |
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| (h) shall transmit to the Minister a copy of each of the statements prepared under paragraph |
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| (g) in respect of each year before the thirtieth day of September of the succeeding year; |
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| (i) shall notify each member of the Fund, before the thirtieth day of September in each year the amount lying to the credit of his individual account at the end of the preceding year ; |
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| (j) shall deduct from the income from the investment of moneys of the Fund in respect of each year, the expenses incurred in that year by the Board in carrying out the provisions of this Act; |
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| (k) shall have such other powers and duties in connection with the Fund, not inconsistent with this Act, as may be conferred and imposed on such Board, by regulations made under this Act. |
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Sri Lanka Consolidated Acts