13.
| (1) The National Lotteries Board established by the Finance Act, No. 11 of 1963 (hereinafter referred to as "the Lotteries Board") shall conduct for the Fund such number of and any type of lotteries in each year as may be agreed between the Fund and the Lotteries Board. |
|
| (2) Every such lottery shall be called a Sharma Vasana and shall be conducted in such manner as may be agreed between the Fund and the Lotteries Board. The agreement between the Fund and the Lotteries Board shall include provision, inter alia, as regards the prizes to be awarded in the lotteries so conducted and the manner in which unclaimed prizes at such lotteries are to be dealt with. |
|
| (3) The proceeds of every lottery conducted by the Lotteries Board for the Fund shall be paid by the Lotteries Board to the Consolidated Fund, after deducting therefrom, such sums as may be agreed between the Lotteries Board and the Fund in consultation with the Minister in Charge of the subject of Finance as expenses for conducting such lottery, including the value of the prizes to be awarded at such lottery. |
|
| (4) The Fund shall be exempt from the payment of any tax under the Inland Revenue Act, No. 28 of 1979 on any income or profit received by it from any lottery conducted by the Lotteries Board for the Fund. |
|
| (5) The Lotteries Ordinance shall not apply to any lottery conducted by the Lotteries Board for the Fund. |
|
|
Sri Lanka Consolidated Acts