Sri Lanka Consolidated Acts

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Sugarcane Research Institute Act (No. 75 of 1981) - Sect 17

Fund of the Institute

17.
(1) The Institute shall have its own fund. There shall be credited to the Fund of the Institute
(a) all such sums of moneys as may be voted from time to time by Parliament for the use of the Institute;
(b) all such sums of moneys as may be received by the Institutes in the exercise, discharge and performance of its powers, functions and duties; and
(c) all such sums of moneys as may be received by the Institute by way of loans, donations, gifts or grants from any source whatsoever, whether in or outside Sri Lanka.
(2) There shall be paid out of the Fund of the Institute all such sums of moneys required to defray the expenditure incurred by the Institute in the exercise, discharge and performance of its powers, functions and duties.
(3) The initial capital of the Institute shall be such sums as may be granted to the Institute by resolution of Parliament from the Consolidated Fund on such terms and conditions as may be determined by the Minister in charge of the subject of Finance.
(4) The capital of the Institute may be increased from time to time by such amount as may be authorized by any Appropriation Act or by resolution of Parliament and that amount shall be paid or made available to the Institute by the Government by way of grant or loan on such terms and conditions as may be determined by the Minister in charge of the subject of Finance.


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