28.
| (1) The Bank shall establish a Fund to accept grants or donations, from local or foreign organizations which shall be known as the " Special Resources Fund " (in this section referred to as " the Fund "). The Fund shall not form part of the general funds of the Bank, but shall be a separate fund which shall be administered by the Bank separately from the general funds of the Bank for and on behalf of the Government, or for any such foreign Government, foreign or international organization or person or persons as may be approved by the Government. |
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| (2) The Bank, in terms of any agreement entered into between the donor and the Bank, is hereby authorized to make or give from the Fund any loan, advance, grant, or other accommodation to any agricultural, industrial, fisheries, commercial or other enterprise. |
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| (3) There shall be credited to the Fund by the Bank the amount of all donations and grants made, for the purposes of the Fund, by the donor. In addition The Fund shall be credited with the net income or interest arising from the operations of the Fund. |
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| (4) All financial commitments or liabilities of the Bank arising from or incurred in connection with, any act or thing done by the Bank with the object of carrying out the purposes of the Fund shall be charged on the Fund. |
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| (5) The Board may invest temporarily the excess resources of the Fund which cannot be utilised immediately in pursuance of the objectives of the Fund in such securities as it may deem appropriate, without prejudice to the long term interests of the Fund. |
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| (6) Rules may be made under this Act in respect of all or any of the following matters : -
| | (a) the manner in which the accounts of the Fund shall be kept; | | |
| | (b) the establishment of reserves in the Fund for bad and doubtful debts, the depreciation of assets, and for such other contingencies as may accord with normal banking practice ; | | |
| | (c) the closure or winding up of the Fund ; and | | |
| | (d) any other matters connected with or incidental to any of the matters aforesaid. | | |
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Sri Lanka Consolidated Acts