Sri Lanka Consolidated Acts

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Padmanabha Foundation (Incorporation) Act (No. 31 of 1993) - Sect 10

Utilization of income of the Corporation

10. The income of the Corporation shall be utilized for the advancement of the objects of the Corporation. Neither the income nor the assets of the Corporation nor any part thereof may be distributed to the members of the Corporation: Provided that a Director may be reimbursed expenses incurred by him attending meetings of the Board of Directors.


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