Sri Lanka Consolidated Acts

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Gramodaya Mandala Fund Act (No. 28 of 1982) - Sect 3

Board of Governors of the Fund

3.
(1) The administration, management and control of the Fund shall be vested in a Board of Governors constituted as hereinafter provided.
(2) The Board of Governors of the Fund (hereinafter referred to as " the Board ") shall consist of
(a) the Minister who shall be the Chairman of the Board ;
(b) the Minister in charge of the subject of Finance ;
(c) the Minister in charge of the subject of Cultural Affairs;
(d) the Minister in charge of the subject of Agriculture ;
(e) the Minister in charge of subject of Education;
(f) the Minister in charge of the subject of Social Services;
(g) the Minister in charge of the subject of Rural Development ;
(h) the Minister in charge of the subject of Rural Industrial Development;
(i) the Leader of the Opposition in Parliament;
(j) the Secretary to the Prime Minister;
(k) the Secretary to the Ministry of the Minister; and
(l) three other persons appointed by the Minister (hereinafter referred to as " appointed members ") who shall hold office for a period of three years from the date of appointment and shall be eligible for re-appointment.
(3) The Minister shall appoint a suitable person to act as the Secretary to the Board.
(4) The Minister may, if he considers it expedient so to do, remove any appointed member of the Board without assigning a reason therefor.
(5) An appointed member of the Board may at any time resign his office by letter addressed to the Minister.
(6) The quorum for a meeting of the Board shall be four members.
(7) Subject to the provisions of subsection (6) the Board may regulate the procedure in regard to its meetings and the transaction of business at such meetings.
(8) The Board may act notwithstanding a vacancy among its members.

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