Sri Lanka Consolidated Acts

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Sri Lanka State Trading Corporations Act (No. 33 of 1970) - Sect 21

Capital of the Corporation

21.
(1) The initial capital of the Corporation shall be that specified in the Incorporation Order.
(2) The initial 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 of Finance.
(3) The amount of the initial capital of the Corporation, and the amount of any increase of such capital referred to in sub-section (2), shall be paid to the Corporation out of the Consolidated Fund of Ceylon in such instalments as the Minister of Finance may, after consultation with the Minister, determine or out of the funds of any public statutory corporation as determined by the Minister in consultation with the Minister of Finance.
(4) As soon as possible after a payment out of the Consolidated Fund of Ceylon has been made towards the initial capital of the Corporation, or towards its increase, the Minister of Finance shall lay a statement of such payment before the Senate and the House of Representatives.


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