22.
| (1) The revenue of the Board shall be applied in defraying the following charges and shall be so applied in the order of priority set out hereunder : -
| | (a) the working and establishment expenses (including
where applicable, allocation to the depreciation
reserve), in connection with the exercise and
performance of the powers and duties chargeable to
revenue account of the Board;
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| | (b) the interest on any temporary loan raised by the
Board;
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| | (c) the sum required to be transferred to any sinking
fund or redemption fund; and
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| | (d) the interest on and the repayment of the principal of
any Government loan.
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| (2) The surplus of the revenue of the Board in any year, which remains after the charges mentioned in subsection (1) have been satisfied, shall be allocated to the general reserve of the Board.
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Sri Lanka Consolidated Acts