Sri Lanka Consolidated Acts

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Sri Lanka Export Credit Insurance Corporation Act (No. 15 of 1978) - Sect 19

Fund

19.
(1) The Corporation shall have its own Fund.
(2) There shall be paid into the Fund-
(a) any sum paid to the Corporation under sections 16 and 17 ;
(b) all sums received by the Corporation as premium in respect of the policies of insurance and guarantees issued by the Corporation ;
(c) all grants of money received by the Corporation ; and
(d) all sums of money including recoveries and charges received by the Corporation in the exercise, discharge and performance of its powers, functions and duties.
(3) There shall be paid out of the Fund-
(a) all sums of money required for the discharge of the liabilities of the Corporation under the policies of insurance and the guarantees issued by the Corporation ; and
(b) all sums of money required to defray any expenditure incurred by the Corporation in the exercise, discharge and performance of its powers, functions and duties.


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