13. Section 32 of the principal enactment is hereby repealed and the following section substituted therefor:
| 32. Such percentages as the Minister may, on the recommendation of the Director, from time to time, appoint of such surpluses as may be disclosed by the periodical actuarial valuations provided for by section 31 of this Ordinance of the assets and liabilities of the fund, including the valuation of such assets and liabilities as on the 31st day of March, 1909. shall be applied in increasing the prospective pensions of the widows and orphans of the contributors to the fund at the date of each such valuation, and of former contributors who had ceased to contribute on attaining the age of sixty-five years or on leaving the service, and of all those who may be pensioners at the date of each such valuation, in such shares and proportions and in such manner as the Minister with the concurrence of the Minister in charge of the subject of Finance may direct. ". |
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Sri Lanka Consolidated Acts