Sri Lanka Consolidated Acts

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Kataragama Kirivehera Rajamaha Viharasta Development Foundation (Incorporation) Act (No. 41 of 2003) - Sect 7

Fund of the Corporation

7.
(1) The Corporation shall have its own fund and all monies received by way of gifts, testamentary dispositions, grants, donations, contributions or fees shall be deposited in the name of the Corporation in one or more banks as may be decided by the Committee of Management.
(2) The Corporation may establish a depreciation fund or a sinking fund for the purpose of rehabilitation. development or improvement of the property of the Corporation,
(3) All expenses borne by the Corporation in the exercise and discharge of the powers and functions of She Corporation shall he paid out of the fund.


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