| (1) The Commission may make by-laws providing for the powers and functions that may be exercised and discharged by a Janawasa for the management of its affairs, and in particular-
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| (a) the conditions to be complied with by persons applying to be members of a Janawasa; | | |
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| (b) the accounts and hooks to be maintained by a Janawasa; | | |
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| (c) the returns to be submitted to the Commission by a Janawasa; | | |
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| (d) the objects for which the reserve fund may be applied; | | |
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| (e) the declaration and distribution of dividends to members ; | | |
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| (f) the audit of annual accounts of the Federation; | | |
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| (g) all matters relating to the liquidation of a Janawasa, including, the powers of a liquidator, the powers of the Commission to exercise control over a liquidator, the directions that the Commission may give a liquidator, the procedure to be followed in liquidation proceedings, the order of preference in which distribution of assets may be made and the closure of liquidation; | | |
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| (h) generally to facilitate the regulation and super-vision of Janawasas; and | | |
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| (i) in respect of matters for which by-laws are required or authorized to be made. | | |
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Sri Lanka Consolidated Acts