Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsInterpretation
| 39. In this Act, unless the context otherwise requires "capital investment" with its grammatical variations and cognate expressions, means any sum expended by the Railways Authority, in increasing its rail network or its operational capacity or in purchasing or repairing or renovating any capital asset; " Chairman" means, the Chairman of the Railways Authority appointed under paragraph (a) of subsection (1) of section 3 ; " local authority" means any Municipal Council, Urban Council or Pradeshiya Sabha and includes any authority created and established by, or under, any law to exercise, perform and discharge powers, duties and functions corresponding, or similar, to the powers, duties and functions exercised, performed or discharged by any such Council or Sabha; " Managing Director" moans the Managing Director of the Railways Authority appointed under section 9 ; " Provincial Council" means a Provincial Council established under Chapter XVIIA of the Constitution; "Public Service Obligation Contract" means a contract entered into between the Government and the Railways Authority under which the Government agrees to reimburse the Railways Authority, for any losses incurred by the Railways Authority in providing any services for any Government department, public corporation, Provincial Council or local authority at rates and tariffs below the rates and tariffs, fixed under paragraph (a) of section 6, for such services, and for any capital costs incurred by the Railways Authority in providing such services. |