Sri Lanka Consolidated Acts

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Sri Lanka Transport Board Act (No. 27 of 2005) - Sect 21

Reserves

21.
(1) The Board shall in Order to ensure the financial stability of the undertakings of the Board establish and maintain-
(a) a depreciation reserve to cover the depreciation of movable and immovable property of the Board; and
(b) a general reserve.
(2) The sums to be carried from time to time to the credit of each of the reserves specified in subsection (1) shall be as the Board may determine.
(3) The application of the moneys comprised in the reserves of the Board shall be as that Board may determine.


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