Sri Lanka Consolidated Acts

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Local Government Credit Councils Act (No. 33 of 1983) - Sect 15

Regulations

15.
(1) The Minister may make regulations relating to all or any of the matters prescribed or in respect of which regulations are required or authorized to be made.
(2) In particular and without prejudice to the generality of the powers conferred by subsection (1), the Minister may make regulations in respect of the following matters :
(a) all matters connected with the procedure regarding the conduct of meetings, including the quorum required for meetings of a Committee of Management or an Interim Committee of Management;
(b) all matters connected with the election of representatives to a Committee of Management;
(c) all matters connected with the grant of loans to members of Credit Councils and the recovery of such loans;
(d) the administration and maintenance of accounts of the Fund;
(e) the refund of moneys that may be voted from the Consolidated Fund;
(f) the recovery of membership contributions and refund thereof;
(g) the declaration of dividends on membership contributions ;
(h) the administration of the Insurance Fund; and
(i) appointment of Chairman and procedure at meetings of the Advisory Committee.
(3) Every regulation made by the Minister shall be published in the Gazette and shall come into operation on the date of such publication or on such later date as may be specified in the regulation.
(4) Every regulation made by the Minister shall, is soon as convenient after its publication in the Gazette, be brought before Parliament for approval. Any regulation which is not so approved shall be deemed to be rescinded as from the date of disapproval but without prejudice to anything previously done thereunder. Notification of the date on which a regulation is deemed to be rescinded shall be published in the Gazette.

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