Sri Lanka Consolidated Acts

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National Water Supply and Drainage Board Law (No. 2 of 1974) - Sect 83

Reserve funds

83.
(1) The Board may establish and maintain-
(a) an insurance fund to cover the insurance of movable and immovable property of the Board and to meet third-party risks and liabilities arising under the Workmen's Compensation Ordinance;
(b) a general reserve fund for the purpose of financing capital works from revenue moneys, ensuring the financial stability of the Board, and for such other purposes as the Board may from time to time determine;
(c) any other reserve fund that the Board, with the approval of the Minister, may consider necessary.
(2) The sums to be carried from time to time to the credit of each or any of the funds specified in subsection (1) shall be such sums as may be determined by the Board.


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