2. Section 5 of the Employees' Provident Fund Act, No. 15 of 1958 (hereinafter referred to as the " principal Act ") as amended by Act No. 18 of 1970, is hereby further amended as follows: -
| (1) by the renumbering of that section as sub-section (1) of section 5; |
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| (2) in sub-section (1) as so renumbered-
| | (a) in paragraph (6), by the substitution for the words " contribution and surcharges ", of the words " contributions, surcharges and fees, "; | | |
| | (b) by the substitution, for paragraph (j), of the following new paragraph: -
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| | (c) in paragraph (k), by the substitution for the words " this Act; and ", of the words " this Act; ''; | | |
| | (d) by the insertion, immediately after paragraph (k), of the following new paragraph:-
| | | " (kk) may establish such reserves out of the Income of the Fund as the Monetary Board may determine, to meet any contingencies or any depreciation in the market value of the assets of the Fund; and ''; and
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| (3) by the insertion, immediately after sub-section (1), of the following new sub-sections: -
| | ' (2) Every officer or servant appointed under paragraph (a) of sub-section (1) shall be deemed to be employed for the performance of duties under the Monetary Law Act, for the purpose of the application of the provisions of the said Act relating to officers and servants. | | |
| | (3) For the purposes of paragraph (k) of sub-section (1), " expenses " shall include-
| | | (i) any loss of moneys on account of theft, misappropriation or over-payment; |
| (ii) any loss of articles of furniture, office equipment or stationery used in or purchased for the administration of the Fund the cost of which cannot be recovered from the persons responsible for such loss; and |
| (iii) the value of any article of furniture, office equipment or stationery written off on grounds of unserviceability. '. |
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Sri Lanka Consolidated Acts