Sri Lanka Consolidated Acts

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National Institute Of Technical Education Of Sri Lanka Act (No. 59 of 1998) - Sect 19

The Fund of the Institute

19.
(1) The Institute shall have its own fund (hereinafter referred to as the "Fund").
(2) There shall be paid into the Fund of the Institute-
(a) all such sums of money as may be voted from time to time by Parliament for the use of the Institute ;
(b) all such sums of money as may be received by the Institute in the exercise, performance, discharge its powers, duties and functions; and
(c) all such sums of money as may be received by the Institute by way of income, fees, charges, loans, donations, gifts or grants from any source whatsoever, whether from within or outside Sri Lanka.
(3) There shall be paid out of the Fund of the Institute-
(a) all such sums of money as are required to defray any expenditure incurred by the Institute in the exercise, performance and discharge of its powers, duties and functions under this Act; and
(b) all such sums of money as are required to be paid out of the Fund, by or under, this Act.


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