Sri Lanka Consolidated Acts

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Sri Lanka Fruit Board Law (No. 30 of 1973) - Sect 24

Fund of the Board

24.
(1) The Board shall have its own Fund. There shall be credited to the Fund of the Board-
(a) all such sums of money as may be voted from. time to time by the National State Assembly for the use of the Board;
(b) all such sums of money received by the Board as proceeds of the fruit cess;
(c) all such sums of money received by the Board in the exercise, discharge and performance of its powers, duties and functions.
(2) There shall be paid out of the Fund of the Board. all sums of money required to defray the expenditure incurred by the Board in the exercise, discharge and performance of its powers, duties and functions under this Law or any other written law.
(3) Any funds or the Board which are not immediately required for the purposes of the business of the Board may be invested by the Board in such manner as the Board may determine with the approval of the Minister, given after consultation with the Minister in charge of the subject of Finance.


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