Sri Lanka Consolidated Acts

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Institute Of Corporation Lawyers Law (No. 33 of 1978) - Sect 17

Capital of the Institute

18.
(1) The initial capital of the Institute shall be one million rupees and such capital shall consist of grants or loans given or made available by the Government out of the Consolidated Fund on such terms and conditions as may be determined by the Minister in charge of the subject of Finance, and the value of such property as may be transferred to the Institute by any Government Department by an order, or with the consent of the Minister in charge of that Department.
(2) The capital of the Institute may be increased, from time to time, by such amount as may be authorized by an Appropriation Law or by resolution of the National State Assembly and such amount shall be paid or made available to the Institute by the Government by way of grant or loan on such terms and conditions as may be determined by the Minister in charge of the subject of Finance.


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