Sri Lanka Consolidated Acts

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Southern Development Authority of Sri Lanka Act (No. 18 of 1996) - Sect 18

Fund of the Authority

18.
(1) The Authority shall have its own Fund. There shall be paid into the Fund-
(a) all such sums of money as may be voted from time to time by the Parliament for the use of the Authority ;
(b) all revenue derived by the Authority from any property vested in or administered by the Authority ;
(c) all revenue derived by the Authority for service provided by the Authority ;
(d) all other donations or grants made to the Authority ; and
(e) all sums of money accruing to the credit of the Authority.
(2) There shall be paid out of the Fund, all such sums of money required to defray any expenditure incurred in the management of the affairs of the Authority and the transaction of its affairs.
(3) The Authority shall have with the approval of the President the power to make rules relating to the withdrawal of any moneys from the Fund and no sum shall be withdrawn from the Fund except in accordance with such rules.

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