Sri Lanka Consolidated Acts

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Ratnapura Sri Sumana Bauddha Sangamaya Law (No. 26 of 1975) - Sect 10

Powers of the Board of Governors

10.
(1) No expenditure above one thousand rupees, or any disposition of property by way of lease, hire;, rental, mortgage, sale, purchase, gift or otherwise shall be valid unless such expenditure or disposition shall have had the prior approval of the Board of Governors.
(2) The Executive Committee may not exercise its borrowing powers on behalf of the Corporation unless it has obtained the prior approval of the Board of Governor.

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