Sri Lanka Consolidated Acts

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Reconstruction And Rehabilitation Fund Act (No. 58 of 1993) - Sect 3

Board of Governors of the fund

3.
(1) The administration, management and control of the Fund shall be vested in a Board of Governors constituted as hereinafter provided.
(2) The Board of Governors of the Fund (hereinafter referred to as " the Board ") shall consist of
(a) the Prime Minister;
(b) the Minister in charge of the subject of Reconstruction, Rehabilitation and Social Welfare ;
(c) the Speaker;
(d) the Leader of the Opposition;
(e) the Secretary to the Prime Minister;
(f) the Secretary to the Treasury or his nominee ;
(g) the Secretary to the Ministry of the Minister in charge of the subject of Reconstruction, Rehabilitation and Social Welfare ; and
(h) two other members appointed by the Prime Minister, each of whom shall, subject to the provisions of subsections (3) and (4), hold office for such period as may be specified in the letter of appointment issued to him by the Prime Minister.
(3) The Prime Minister may in his absolute discretion revoke the appointment of any member appointed by him under paragraph (h) of subsection (2).
(4) Any member of the Board appointed under para graph (h) of subsection (2) may at any time resign from the Board by letter in that behalf addressed to the Prime Minister.
(5) The Board may regulate the procedure in regard to its meetings and the transaction of business at such meetings.
(6) No act or proceeding of the Board shall be deemed to be invalid by reason only of the existence of a vacancy among its members or any defect in the appointment of a member thereof.
(7) The Prime Minister shall be the Chairman of the Board.

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