Sri Lanka Consolidated Acts

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Finance Act (No. 11 of 1963) - Sect 17

Proceeds of national lotteries

17.
(1) The proceeds of every national lottery shall be paid in the first instance to the Fund of the Board.
(2) The Board shall pay to the Consolidated Fund through the Deputy Secretary to the Treasury the balance of the proceeds of every national lottery after the deduction from such proceeds of an amount approved by the Permanent Secretary as the amount necessary for the purpose of-
(a) defraying, or reimbursing the Fund of the Board for the payment of, the expenses of conducting such lottery including the value of the prizes awarded in such lottery;
(b) paying the whole or a part of the remuneration, if any, of the members of the Board and the remuneration of the staff of the Board;
(c) paying the whole or a part of any contributions payable by the Board to any such provident fund as is referred to in subsection (3) of section 6;
(d) repaying the whole or a part of any loan granted to the Board under section 10; and
(e) meeting other liabilities of the Board.


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