Sri Lanka Consolidated Acts

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Loan Board (Amendment) Law (No. 33 of 1973) - Sect 4

Replacement of section 18 of the principal enactment

4. Section 18 of the principal enactment is hereby repealed and the following new section is substituted therefor; -
18. Out of the aggregate interest due to the Loan Board at the end of each financial year, from the investment-made under section 12. the Commissioners shall pay to the Government of the Republic of Sri Lanka, in respect of each such financial year, a sum equal to the amount for the time being approved by the Minister and the Minister in charge of the subject of Finance as the equivalent of, or the nearest approximation to, the aggregate expenses incurred or borne by that Government in connexion with the management of the affairs of the Board.".


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