4.
| (1) Every school magazine competition shall be subject to the following conditions: -
| | (a) entries in the competition shall be made only by means of entry forms printed or published in the school magazine in or through which the competition is promoted or conducted; | | |
| | (b) the following amounts may be deducted from the proceeds of the competition: -
| | | (i) as expenses of the competition an amount equal to the actual cost of printing and publishing such magazine; |
| (ii) an amount equal to the total value of such money prizes in the competition as are provided out of the proceeds of the competition; and |
| (iii) an amount equal to the total actual cost or value of such other prizes in the competition as have not been donated by any person for the purposes of the competition. |
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| (2) The total value of the prizes awarded in each or all of the school magazine competitions promoted or conducted in any school in each of the three school terms of any year shall not exceed two hundred and fifty rupees. |
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| (3) The proceeds of every school magazine competition, less the deductions permitted by paragraph (b) of subsection (1), shall be applied for the benefit of the school. |
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Sri Lanka Consolidated Acts