Sri Lanka Consolidated Acts

Sri Lanka State Trading Corporations Act (No. 33 of 1970)

TABLE OF PROVISIONS

           Long Title

   1.	   Short title  
   2.	   Establishment of Corporations  
   3.	   Objects of the Corporation  
   4.	   Principal place of business of the Corporation  
   5.	   General powers of the Corporation  
   6.	   Powers of the Minister  
   7.	   Seal of the Corporation  
   8.	   General control of t lie Corporation and exercise of its powers  
   9.	   Members of the Corporation  
   10.	   Board of Directors  
   11.	   Remuneration of Directors  
   12.	   Director to disclose interest in contract proposed to be made by the Corporation  
   13.	   Quorum for any meeting of the Board of Directors  
   14.	   Board of Directors may act despite vacancy  
   15.	   Chairman of Board of Directors  
   16.	   Presidency at meetings  
   17.	   General Manager  
   18.	   Appointment of public officers to the staff of the Corporation  
   19.	   Officers and servants of the-Corporation deemed to be public servants Cap. 19  
   20.	   Corporation deemed to be a scheduled institution within the meaning of the Bribery Act Cap. 26  
   21.	   Capital of the Corporation  
   22.	   Borrowing powers of the Board of Directors  
   23.	   General duties of the Corporation in financial matters  
   24.	   Application of the revenue of the Corporation  
   25.	   Reserves  
   26.	   Accounts  
   27.	   Audit of accounts  
   28.	   Acquisition of immovable property under the Land Acquisition Act Cap. 460  
   29.	   Notice of claim or disclaimer in respect of property required for purposes of the Corporation  
   30.	   Compulsory transfer to the Corporation of certain property  
   31.	   Requisitioning of notified property for the purpose of the Corporation  
   32.	   Compulsory acquisition of requisitioned property  
   33.	   Revocation of vesting Orders  
   34.	   Taking possession of property vested in or requestioned  for the  Corporation  
   35.	   Prevention of  or obstruction to taking possession of property for and on behalf of Corporation  
   36.	   Grants or leases of immovable property to the Corporation under the Crown lands Ordinance  
   37.	   Power to require information and' to inspect  
   38.	   Power of Corporation to make use of equipment and facilities of other persons.  
   39.	   Power of Minister by Order to vest in the Corporation the exclusive right to engage in or carry on any specified Business  
   40.	   Power of Board of Directors to grant to persons, other than the Corporation, authority to engage in or carry on any Specified Business of the Corporation. Cap. 124  
   41.	   Compensation in respect of property Tested in the Corporation  
   42.	   Compensation in respect of property requisitioned for the Corporation  
   43.	   No compensation for damage or loss incurred by reason of the fact that the exclusive right to engage in or carry on any Specified Business is vested in the Corporation  
   44.	   Interest on compensation  
   45.	   Date of commencement of accruement of compensation  
   46.	   Mode of payment of compensation  
   47.	   Determination of compensation  
   48.	   Payment of compensation  
   49.	   Provision for cases where compensation is not accepted, &c  
   50.	   Deductions from compensation  
   51.	   Regulations  
   52.	   Powers of companies, &c, to enter into contracts with the Corporation  
   53.	   Offences  
   54.	   Protection for action taken under this Act or on the direction of the Board of Directors  
   55.	   No writ to issue against person or property of a member of Corporation  
   56.	   This Act to prevail over other written laws  
   57.	   Interpretation