Sri Lanka Consolidated Acts

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Higher Education Act (No. 20 of 1966) - Sect 69

Payments out of a provident fund

69.
(1) When the account of any contributor is closed as provided in section 68, the Secretary of a University shall, subject to the provisions of section 70, pay to that contributor the full amount lying to the credit of his account in the provident fund.
(2) Where a contributor, before he has completed his age of voluntary retirement, ceases to be employed by a University either on account of ill health or incapacity or on account of the abolition of the post in which he is employed, or voluntarily leaves the service of the University, the Secretary of the University shall, subject to the provisions of section 70, pay to that contributor the full amount which has accumulated to the credit of his account in the provident fund at the date on which he has ceased to be so employed, or on the date on which he voluntarily left, as the case may be.
(3) Where a contributor, before he has completed his age of voluntary retirement, is dismissed or compulsorily retired from the service of a University, the Secretary of the University shall, subject to the provisions of section 70, pay to that contributor the amount contributed by him to the provident fund, together with the accumulated interest thereon up to the date of his dismissal or compulsory retirement, as the case may be.
(4) Where a contributor dies while in the service of a University, the Secretary of the University shall, subject to the provisions of section 70, pay the full amount which has accumulated to the credit of the account of that contributor in the provident fund to the estate of the deceased contributor or to the person lawfully entitled to such amount.


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