11.
| (1) The Council shall establish and maintain a fund under its management and control into which shall be paid all moneys received by the Council and out of which shall be met all expenses and liabilities incurred by the Council in carrying out its powers, functions and duties under this Act. |
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| (2) The Council may invest moneys in the fund in any securities issued or guaranteed by the Government of Ceylon or in any other securities approved by the Minister. |
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| (3) The Council may maintain an account in any bank or banks in Ceylon. |
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| (4) The annual accounts of the Council shall be subject to audit by a member of the Institute (not being a member of the Council) in practice as a Chartered Accountant in Ceylon who shall be appointed for the purpose each year by the Council. |
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| (5) As soon as may be after the end of each financial year of the Council, the accounts for the preceding year shall be published in the Gazette and copies thereof shall be furnished to the Minister and to each member of the Institute. |
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| (6) As soon as convenient after the appointed date, the Government shall donate to the Council a sum of two hundred thousand rupees. |
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| (7) The Minister of Finance may from time to time decide that a temporary loan shall, subject to such conditions as he may determine, be made to the Council from the Consolidated Fund of Ceylon in order to enable the Council to meet any current liabilities pending the receipt of income by the Council. Any sum which is to be lent to the Council under this subsection is hereby charged on the Consolidated Fund of Ceylon: |
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Sri Lanka Consolidated Acts