BUDDHA SASANA FUND ACT

Arrangement of Sections

1. Short title.

2. Establishment of the Buddha Sasana Fund.

3. Board of Governors of the Fund.

4. Advisory Committee.

5. Advisory Committee.

6. Purposes of the Fund.

7. Powers of the Board.

8. Buddha Sasana Fund Account.

9. Payments out of account.

10. Investment of the Fund.

11. Officers and servants of the Fund.

12. Audit and accounts.

13. Auditor-General report to be placed before Parliament.

14. Powers of Board.

15. Officers and the Fund deemed to be of public servants within the meaning of the Penal Code.

16. The Board deemed to be a Scheduled Institution within the meaning of the Bribery Act.

17. Exemption.

18. Sinhala text to Prevail in case of inconsistency.

19. Interpretation.

35 of 1990.

AN ACT to provide for the establishment of a fond called "the Buddha Sasana Fund” for the collection and provision or funds for the protection and fostering of the Buddha Sasana; and to provide for matters connected therewith or incidental thereto.

[Date of Commencement: 26th September, 1990]

1. Short title.

This Act may be cited as the Buddha Sasana Fund Act.

2. Establishment of the Buddha Sasana Fund.

(1) There shall be established a Fund to be called the "Buddha Sasana Fund” (hereinafter referred to as the "Fund”).

(2) The Fund shall, by the name assigned to it by subsection (1), be a body corporate and shall have perpetual succession and a common seal and may sue and be sued in such name.

3. Board of Governors of the Fund.

(1) The administration, management and control of the Fund shall be vested in a Board of Governors constituted as hereinafter provided.

(2) The Board of Governors of the Fund (hereinafter referred to as the "Board”) shall consist of—

(a) the President of the Republic or any Member of the Cabinet of Ministers nominated by him;

(b) the Leader of the Opposition of Parliament or his nominee;

(c) the Minister appointed under Article 45 of the Constitution to whom the subject of Buddha Sasana has been assigned;

(d) the Secretary to the Ministry of the Minister in charge of the subject of Buddha Sasana;

(e) the Public Trustee; and

(f) two other members appointed by the President, each of whom shall, subject to the provisions of subsections (3) and (4), hold office for such period as may be specified in the letter of appointment issued to him by the President.

(3) The President may in his absolute discretion revoke the appointment of any member appointed by him under paragraph (f) of subsection (2).

(4) Any member of the Board appointed under paragraph (f) of subsection (2) may at any time resign from the Board by a letter in that behalf addressed to the President and such resignation shall take effect upon it being accepted by the President in writing.

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