Sri Lanka Consolidated Acts

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Finance Act (No. 11 of 1963) - Sect 10

Power of Minister to grant a loan to the Board

10.
(1) The Minister may grant out of the Consolidated Fund to the Board, free of interest, a loan not exceeding rupees one million for the purpose of enabling the Board to meet the initial expenses incurred by the Board in the discharge of its duties under this Part of this Act.
(2) Any sum granted to the Board by way of loan under subsection (1) of this section-
(a) shall be paid to the Fund of the Board; and
(b) shall be repaid by the Board to the Consolidated Fund out of the Fund of the Board in such manner as the Minister may from time to time direct.


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