Sri Lanka Consolidated Acts

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Cassim Family Trust (Incorporation) Act (No. 35 of 2000) - Sect 6

Fund of the Corporation

6.
(1) The Corporation shall have its own fund (hereinafter referred to as the "Trust Fund") and all moneys received by way of donations, testamentary dispositions, transfers, contributions or fees shall be deposited in the name of the Corporation in one or more banks in Sri Lanka or as the Corporation shall determine.
(2) There shall be paid out of the Trust Fund all sums of money to defray any expenditure incurred by the Corporation in the exercise, performance and discharge of its powers, duties and functions under this Act.
(3) The moneys of the Corporation shall he applied solely towards the promotion of the objects and no portion thereof shall be paid or transferred, directly or indirectly, by way of dividend, bonus or otherwise howsoever to the members of the Corporation.


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