Sri Lanka Consolidated Acts

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Finance Act (No. 65 of 1961) - Sect 62

Establishment of the National Development Fund}. [ 28, 9 of 1962.]

59A.
(1) There shall be established for the purposes of this Act a fund called the National Development Fund.
(2) There shall be paid into the National Development Fund all sums which may be paid or recovered under this Act as National Development Tax.
(3) The Minister may, with the prior approval of the House of Representatives, determine the sums of money to be withdrawn from the National Development Fund and the purposes for which such sums shall be applied, and no sums of money other than such sums shall be withdrawn from that Fund.

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