Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Institute of Valuers of Sri Lanka Law (No. 33 of 1975) - Sect 17

Power of Minister to make rules or Regulations

17.
(1) It shall be lawful for the Minister, from time to time, to make rules or regulations of his own motion until the constitution of the Council and thereafter, at the request of the Council, in respect of all or any of the following matters:
(a) any matter required to be prescribed or in respect of which rules or regulations are authorized or required to be made;
(b)
(i) the classification of members as Corporate or Non-Corporate Members;
(ii) grading of Corporate and Non-Corporate Members;
(c) fees payable for admission to or renewal of membership and the time and manner of payment of such fees;
(d) the meetings of the Institute and of the Council, how and when such meetings are to be convened, and the conduct of business at such meetings;
(e) the election or appointment of members of the Council;
(f) the powers, functions and duties of the office bearers of the Council;
(g) the constitution of committees of the Council, the election or nomination of members of such committees, the powers, functions and duties of such committees and the conditions subject to which such powers, functions and duties may be exercised or discharged;
(h) the appointment, remuneration, dismissal and disciplinary control of officers and servants of the Institute and the grant of allowances, gratuities and ex gratia payments upon their retirement or upon their death to the widows and orphans;
(i) the fees payable by students for admission to the qualifying examination of the Institute and for courses of study provided by the Institute;
(j) the remuneration of lecturers aid examiners;
(k) the establishment and regulation of a fund for the grant of financial assistance to the widows and orphans of Corporate Members and of Non-Corporate Members;
(l) the administration and management of the property of the Institute;
(m) the establishment and maintenance of a fund into which all moneys received by the Institute shall be paid and out of which all the expenses and liabilities incurred by the Council in the exercise or performance of its powers, functions and duties shall be met;
(n) the books of accounts to be kept by the Institute;
(o) the audit of the accounts of the Institute;
(p) the manner in which moneys of the Institute may be invested;
(q) the arbitration of disputes which may be refer-red to the Institute for determination; and
(r) all such other matters herein before specifically not mentioned as may be necessary for carrying out the provisions of this Law or for the exercise of the powers of the Institute and the discharge of its duties.
(2) Every rule or regulation made under subsection (1) shall be published in the Gazette and shall come into effect on the date of such publication. Every such rule or regulation shall, as soon as may be after such publication, be placed before the National State Assembly for approval, and if such rule or regulation is not so approved, such rule or regulation shall be deemed to be rescinded from the date of such disapproval without prejudice to anything previously done thereunder. Notice of such disapproval shall be published in the Gazette.


[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]