10.
| (1) Subject to the provisions of sub-section (3), the net surplus for any year, if any, out of the revenue of a public corporation after defraying the charges mentioned in section 9 may be appropriated by the corporation for all or any of the purposes to which the provisions of this sub-section apply. |
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| (2) The provisions of sub-section (1) shall apply to the following purposes:-
| | (a) writing off the whole or any part of any accumulated losses brought forward; | | |
| | (b) writing off the whole or any part of the preliminary expenses incurred in the formation of the corporation; | | |
| | (c) writing off the whole or any part of any unproductive expenditure or loss not properly chargeable to revenue account; | | |
| | (d) transfers to a loan redemption reserve which the corporation is hereby authorized to establish and maintain; and | | |
| | (e) transfers to other reserves. | | |
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| (3) No appropriation shall be made by a public corporation under the preceding provisions of this section except,-
| | (a) in any case where the appropriate Minister is the Minister of Finance, with the approval of the appropriate Minister so, however, that, if the purpose for which such appropriation is to be made is the purpose mentioned in paragraph (e) of sub-section (2), no such approval shall be given without the concurrence of the Minister of Planning; or | | |
| | (b) in any case where the appropriate Minister is not the Minister of Finance, with the approval of the appropriate Minister given with the concurrence of the Minister of Finance so, however, that, if the purpose for which the appropriation is to be made is the purpose mentioned in paragraph (e) of sub-section (2), no such approval shall be given without the concurrence also of the Minister of Planning. | | |
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| (4) No debits against or transfers out of any of the reserves mentioned in paragraphs (d) and (e) of sub-section (2) shall be made by a public corporation except,-
| | (a) in any case where the appropriate Minister is the Minister of Finance, with the approval of the appropriate Minister given with the concurrence of the Minister of Planning; or | | |
| | (b) in any case where the appropriate Minister is not the Minister of Finance, with the approval of the appropriate Minister given with the concurrence of both the Minister of Finance and the Minister of Planning. | | |
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| (5) All sums remaining out of the net surplus revenue of a public corporation in any year after the appropriations mentioned in sub-section (1) have been made shall be paid to the Consolidated Fund. |
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Sri Lanka Consolidated Acts