Sri Lanka Consolidated Acts

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State Gem Corporation Act (No. 13 of 1971) - Sect 22

Capital of the Corporation

22.
(1) The initial capital of the Corporation shall be fifty million rupees and such capital shall consist of grants or loans given or made available by the Government on such terms and conditions as may be determined by the Minister of Finance.
(2) The amount of the initial capital of the Corporation shall be paid to the Corporation in such instalments as may be determined by the Minister of Finance.
(3) The capital of the Corporation may be increased from time to time by such amount as may be authorized by any Appropriation Act or by resolution of the House of Representatives and that amount shall be paid or made available to the Corporation by the Government by way of grant or loan on such terms and conditions as may be determined by the Minister of Finance.
(4) The capital of the Corporation contributed by the Government by way of grants shall not be reduced except in such manner as may be determined by resolution of the House of Representatives.


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