8. The Corporation shall not, without the written sanction and approval of the Board of Governors,
| (a) sell, mortgage, exchange or alienate in any manner any property belonging to the Corporation ; |
|
| (b) lease any property belonging to the Corporation for a period in excess of one year or lease the same property for any subsequent period; |
|
| (c) expend any sum of money exceeding twenty-five thousand rupees on any project or for any purpose during a period of one year : |
|
Provided, however, that the provisions of this paragraph shall not apply to the Educational Board on the use of the interest accruing on fixed deposits to give financial aid. pay scholarship money and other incidental expenses. |
Sri Lanka Consolidated Acts