Sri Lanka Consolidated Acts

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National Institute Of Education Act (No. 28 of 1985) - Sect 17

Fund of the Institute

17.
(1) The Institute shall have its own fund.
(2) There shall be credited to the fund of the Institute.
(a) all such sums of money as may be voted from time to time by Parliament for the use. of the Institute;
(b) all such sums of money as may be received by the Institute in the exercise, discharge and performance of its powers, functions and duties; and
(c) all such sums of money as may be received by the Institute by way of loans, donations, gifts or grants from any source whatsoever, whether in or out side Sri Lanka.
(3) There shall be paid out of fund of the Institute
(a) all such sums of money as are required to defray any expenditure incurred by the Institute in the exercise, discharge and performance of its powers, duties and functions under this Act; and
(b) all such sums of money as are required to be paid out of such fund, by or under, this Act.


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