Sugathadasa National Sports Complex Authority Act (No. 17 of 1999)

Sri Lanka Consolidated Acts

Fund of the Authority

(1) The Authority shall have its own fund.

(2) The Fund shall be called "Sugathadasa National Sports Complex Fund" (hereinafter referred to as "the Fund").

(3) There shall be paid into Fund-

	(a) all such sums of money as are lying on the day preceding the appointed date, to the credit of Sugathadasa National Sports Complex Trust Fund established in pursuance of Cabinet decision dated October 25,1995 ;

	(b) all such sums of money as may be voted by Parliament annually, for the use of the Authority ;

	(c) all such sums of money as may be received by the Authority as grants, gifts, or donations from local or foreign sources :

	(d) all such sums of money as may be received by the Authority, as fees for services or facilities rendered or provided by the Authority or in the exercise or discharge of its powers and functions under this Act.

(4) There shall be paid out of the Fund"

	(a) all such sums of money as may be required to defray any expenditure incurred by the Board in the exercise and discharge of its powers and functions under this Act;

	(b) all such sums of money as are required to be paid out of the Fund by any provision of this Act; and

	(c) all such sums of money as are required to meet any liabilities of the Sugathadasa National Sports Complex Trust Fund and subsisting on the day preceding the appointed date.