Sri Lanka Consolidated Acts

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The Royal Asiatic Society Of Sri Lanka (Incorporation) Act (No. 6 of 1992) - Sect 9

Application of money and property

9. The moneys and property of the Corporation shall be applied solely towards the promotion of its objects as set forth herein, and no portion thereof shall be paid or transferred, directly or indirectly, by way of dividends, bonus or otherwise by way of profit to any member of the Corporation : Provided, however, that the provisions of this section shall not prohibit,"
(a) the payment in good faith of reasonable and proper remuneration to any officer or employee of the Corporation or to any member of the Corporation for any services rendered to the Corporation;
(b) the payment of reasonable and proper rent for premises let to the Corporation; and
(c) the reimbursement or repayment of reasonable and proper expenses incurred with the prior approval of the Council by any member, trustee, officer or employee of the Corporation in the performance of his functions or duties or in promoting the objects of the Corporation.


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