Sri Lanka Consolidated Acts

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National Institute Of Fisheries And Nautical Engineering Act (No. 36 of 1999) - Sect 23

Fund of the Institute

23.
(1) The Institute shall have its own fund.
(2) There shall be credited in to such Fund-
(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, performance and discharge of its powers, duties and functions under this Act;
(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 and fees charged for services rendered by the Institute; and
(d) all such sums of money as are required to be paid into such Fund by or under this Act.
(3) There shall he paid out of such fund-
(a) all such sums of money as are required to defray any expenditure incurred by the Institute in the exercise, performance and discharge of its powers, duties and functions under this Act; and
(b) all such sums of money as are required to he paid out of the Fund by or under this Act.


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