6. Section 16 of the principal enactment is hereby amended as follows : -
| (1) in subsection (1) of that section-
| | (a) by the renumbering of paragraph (g) of that subsection as paragraph (h), and | | |
| | (b) by the insertion, immediately after paragraph (f) of that subsection, of the following new paragraph : -
| | | " (g) the granting of loans to employees for the purposes specified in section 15 ; " ; |
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| (2) in subsection (4) of that section, by the substitution, for the words " the benefits accruing to his legitimate children ", of the words " the benefits accruing to his widow and legitimate children " ; and |
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| (3) by the addition, immediately after subsection (4) of that section, of the following new subsection : -
| | " (5) It is hereby declared that the powers conferred on the corporation by this section to make rules at any general meeting of the members thereof for the management of the affairs of the corporation and the accomplishment of its objects include, and shall from the twenty-fourth day of May, 1949, be deemed to have included, the power to make rules containing provision to the effect that, upon the death of any such member, the benefits accruing to his father, mother, brothers, sisters, nephews and nieces may be conditional only upon no legitimate child or the legitimate issue of a legitimate child surviving him, and that such benefits so accruing to his father, mother, brothers, sisters, nephews and nieces may be paid only to such of them as he may nominate, or be apportioned among all or any of them in such shares as he may specify.". | | |
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Sri Lanka Consolidated Acts