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| (1) The Board shall establish a Fund called "The Zahira College (Colombo) Fund", hereafter in this Act referred to as " the Fund ". |
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| (2) All moneys heretofore, or hereafter to be, received by any person or persons by way of gift, bequest, devise, donation, subscription, contribution, fees, grants, for and on account of and for the purpose of conducting the affairs of Zahira College, Colombo, shall be accountable to and transferred to the Board which shall deposit all such moneys to the credit of the Fund in one or more banks, as the Board shall determine. |
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| (3) There shall be paid out of the Fund all disbursements necessary for the proper discharge of the functions of the Board in the administration, management, maintenance and conduct of the affairs of Zahira College, Colombo. |
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Sri Lanka Consolidated Acts