Sri Lanka Consolidated Acts

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

Mahaweli Authority Of Sri Lanka Act (No. 23 of 1979) - Sect 35

Incorporation Orders for establishment of Corporations

35.
(1) Where after consultation with the Authority, the Minister considers it desirable that a Corporation should be established for the purpose of performing any one or more or any part of any function of the Authority in or in relation to any one or more or any part of any Special Area, the Minister may with the approval of the Cabinet of Ministers by Order (hereinafter referred to as " incorporation Order ") published in the Gazette
(a) declare that a Corporation shall be established to perform such functions as may be specified in such Order ;
(b) specify the area to which the Order relates ;
(c) assign a corporate name to the Corporation ;
(d) specify the initial share capital of the Corporation and specify the amount, if any, of such share capital that shall be payable by the Authority ; and
(e) specify any of the powers of the Authority as a special power of the Corporation.
(2) Upon the publication of an Order under subsection (1) in the Gazette, a Corporation (hereinafter referred to as the " Corporation ") shall with the corporate name specified in such Order be deemed to have been established.

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