2. The following New section is hereby inserted immediately after section 24A of the Universities Act, No. 16 of 1978 (hereinafter referred to as the "Principal enactment") and shall have effect as section 24B, of that enactment:-
| 24B
| | (1) Notwithstanding anything to the contrary in any other provision of this Act, The Minister may, if Consultation with the Commission, and with the concurrence of the Governing Authority of any institute or college and of the Senate and Council of the Higher Educational Institution to which such institute or college is proposed affiliated by an Order published in the Gazette recognize such institute or college as an Institute or centre for higher learning for the purpose of providing, promoting and developing higher education in such branches of learning as may be specified in such order and shall by such Order, affiliate such institute or college to a Higher Educational Institution ; and upon the making of such Order, such institute or college shall be deemed to have been established by an Order made under section 24A with effect from the date of the first mentioned Order | | |
| | (2) Upon the making of an Order under subsection (1) recognizing an institute or college as an institute or center for higher learning-
| | | (a) all movable and immovable property which was owned by such institute or college and used for the purpose of such institute or college on the day immediately preceding the date or such Order shall stand transferred, with effect from the date of such Order, to the Higher Educational Institution to which such institute or college is affiliated by such Order, subject to any encumbrances or trusts attaching to such movable or immovable property, on the day immediately preceding the date of such Order and to the payment of such compensation in respect thereof, as may be agreed by such Higher Educational Institution and the Governing Authority of Such institute or college; and |
| (b) all officers and servants of such institute or college on the day immediately preceding the data of such Order-
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| (c) the Governing Authority of such institute or college shall, with effect from the date of such Order, cease to exercise or discharge in respect of such institute or college any power or function conferred on, or assigned to, such Governing Authority by any written law. |
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| | (3) In this section ' Governing Authority " in relation to an institute or college means the Board of Directors, the Board of Management, Palaka Sabhawa or any other body, howsoever designated, charged with the administration and management of the affairs of such institute or college.". | | |
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Sri Lanka Consolidated Acts