Sri Lanka Consolidated Acts

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Sri Lanka State Trading Corporations Act (No. 33 of 1970) - Sect 23

General duties of the Corporation in financial matters

23.
(1) It shall be the duty of the Corporation so to exercise its powers, perform its functions and carry out its objects under this Act as to secure that the total revenues of the Corporation are sufficient to meet its total outgoings properly chargeable to revenue account, including taxes, depreciation and interest on capital, to meet a reasonable proportion of the cost of the development of the services of the Corporation and to provide such reasonable surpluses as may be determined by the Minister in consultation with the Minister of Finance.
(2) Nothing in sub-section (1) shall be construed as imposing on the Corporation, either directly or indirectly, any form of duty or liability enforceable by proceedings before any court or tribunal to which the Corporation would not otherwise be subject.


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