16.
| (1) The authorized capital of the Corporation shall be five, million rupees of which a sum of two and a half million, rupees shall be initially paid up by the Central Bank of Ceylon and the Insurance Corporation of Ceylon in equal proportion. |
|
| (2) On a resolution adopted by the Board, the balance authorized capital of two and a half million rupees shall be drawn by the Corporation from the Central Bank of Ceylon and the Insurance Corporation of Ceylon in equal proportion. |
|
| (3) The authorized and paid-up capital of the Corporation may be increased from time to time by such amount as may be determined by the Corporation with the approval of the Minister given with the concurrence of the Minister in charge of the subject of Finance. |
|
| (4) The amount of any increase in the capital referred to in subsection (3) shall be paid to the Corporation in such installments as may be determined by the Minister with the concurrence of the Minister in charge of the subject of Finance. |
|
|
Sri Lanka Consolidated Acts