Sri Lanka Consolidated Acts

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T. B. Tennakoon Foundation (Incorporation) Act (No. 26 of 2006) - Sect 9

Fund of the Corporation

9.
(1) The Corporation shall have its own fund and all moneys heretofore or hereafter received by way of gift, bequest, donation, subscription, contribution, fees or grants for and on account of the Corporation, shall be deposited to the credit of the Corporation in one or more banks as the Board shall determine.
(2) There shall be paid out of the fund all sums of money required to defray any expenditure incurred by the Corporation in the exercise, performance and discharge of its powers, duties and functions under this Act.


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