Sri Lanka Consolidated Acts

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Higher Education Act (No. 20 of 1966) - Sect 21

Fund of the National Council

21.
(1) The National Council shall have its own Fund.
(2) There shall be paid into the Fund of the National Council-
(a) all such sums of money as may be voted by Parliament for the use of that Council;
(b) all such sums of money as may be received by that Council by way of-
(i) donations, gifts or grants from any source whatsoever; and
(ii) fees charged for services rendered by that Council;
(c) all such sums of money as are required to be paid into such Fund by or under this Act.
(3) There shall be paid out of the Fund of the National Council all sums of money required to defray any expenditure incurred by that Council in the carrying on of its business or in the exercise, discharge and performance of its powers, functions and duties under this Act or any other written law, and all such sums of money as are required to be paid out of such Fund by or under this Act.


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