5. The Corporation shall carry on insurance business of every description in Ceylon or outside Ceylon, including-
| (1) the business of insuring-
| | (a) any property of the Crown or of any corporation the entirety of whose capital is provided by the Government, or any property held in trust by any public officer in his official capacity, against the loss of, or any damage to, such property caused by fire, accident, theft, flood or any malicious act or any other cause; or | | |
| | (b) the Head of any Government Department or any such corporation as aforesaid,-
| | | (i) against any loss caused to such Head in his official capacity or to such corporation by the default or fraud of any employee of the Crown in such Department or any employee of such corporation or any person transacting any business or performing any work for such Head in his official capacity or for such corporation; or |
| (ii) in respect of any liability which may be incurred by the Crown or such corporation in consequence of the death of, or any bodily injury to, any employee of the Crown in such Department or any employee of the corporation, or any other person, or in consequence of the loss of, or any damage to, any property in the custody of any employee of the Crown in such Department in his official capacity or in the custody of such corporation; or |
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| | (c) the Secretary to the Treasury, or the Head of any Government Department, on behalf of the Government against any loss which may be incurred by the Government as a result of the failure of any public servant employed in that Department to repay the whole or any part of any sum of money lent to him by the Government; or | | |
| | (d) the Secretary to the Treasury, or the Director of Education, on behalf of the Government against any loss which may be incurred by the Government as a result of the failure of any teacher in any Assisted school to repay the whole or any part of any sum of money lent to him by the Government; or | | |
| | (e) any employee of any such corporation as aforesaid in respect of third-party risks in conformity with the requirements of Part VI of the Motor Traffic Act; or | | |
| | (f) the Head of any Department in respect of any risks arising out of any work undertaken by a contractor in pursuance of a contract entered into between the Head of the Department and such contractor; and | | |
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| (2) such other business of insurance as may be authorized by a resolution of the House of Representatives. |
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Sri Lanka Consolidated Acts