CEYLON SHIPPING CORPORATION ACT

Arrangement of Sections

1. Short title.

2. Establishment of the Ceylon Shipping Corporation.

3. Members of the Corporation.

4. Objects of the Corporation.

5. Powers of the Corporation.

6. Powers of the Minister in relation to the Corporation.

7. Board of Directors.

8. Remuneration of Directors.

9. Director to disclose interest in contract proposed to be made by the Corporation.

10. Quorum for meeting of Board of Directors.

11. Regulation of procedure.

12. Board of Directors may Act despite vacancy.

13. Board of Directors to administer the affairs of the Corporation.

14. Delegation of powers and duties of Board of Directors.

15. Chairman of Board of Directors.

16. Appointment of General Manager.

17. Seal of the Corporation.

18. Capital of the Corporation.

19. Borrowing powers of the Board of Directors.

20. Investment of moneys.

21. Application of the revenue of the Corporation.

22. Appropriation of net surplus revenue of the Corporation.

23. Operation of reserves of the Corporation.

24. Payment to the Consolidated Fund.

25. Reduction of the capital of the Corporation.

26. Accounts and financial year.

27. Audit of accounts.

28. Contracts.

29. Bills of exchange and promissory notes.

30. Execution of deeds abroad.

31. Receipts when valid.

32. Officers and servants of the Corporation deemed to be public servants within the meaning and for the purposes of the Penal Code.

33. The Corporation deemed to be a scheduled institution within the meaning of the Bribery Act.

34. Appointment of public officers, members of the Local Government Service and officers and servants of local authorities to the staff of the Corporation.

35. Acquisition of land under the Land Acquisition Act for the Corporation.

36. Regulations.

37. Company law not to apply to the Corporation.

38. Interpretation.

SPECIAL PROVISIONS APPLICABLE TO, AND IN RELATION TO THE CEYLON SHIPPING CORPORATION LIMITED

39. Succeeding provisions of this Act to prevail over other written law.

40. Vesting of the assets and liabilities of the Ceylon Shipping Corporation Limited in the Corporation.

41. Effect of the establishment of the Corporation.

42. Compensation to be payable in respect of certain shares of the Ceylon Shipping Corporation Limited vested in the Corporation.

43. Special provision relating to the Annual General Meeting for 1970 of the Ceylon Shipping Corporation Limited.

44. Power of Minister to make Orders relating to the dissolution of the Ceylon Shipping Corporation Limited.

11 of 1971.

AN ACT to provide for the establishment of a Shipping Corporation to operate services for the transport of goods, mails and passengers by sea and to carry on business as shipowners, charterers of ships and vessels, ship brokers, and shipping agents, to carry out the building. maintenance, repair and overhaul of ships and vessels, to vest in such corporation the undertaking carrying on business under the name and style of the Ceylon Shipping Corporation Limited, to regulate the powers and duties of such Corporation. and to make provision for purposes connected with the aforesaid matters.

[Date of Commencement: 9th March, 1971]

1. Short title.

This Act may be cited as the Ceylon Shipping Corporation Act.

2. Establishment of the Ceylon Shipping Corporation.

(1) There shall be established, with effect from such date as may be appointed for the purpose by the Minister by Order published in the Gazette*, a corporation which shall be known as the Ceylon Shipping Corporation (hereafter in this Act referred to as "the Corporation”), and which shall consist of the persons who are for the time being members of the Corporation under section 3.

(2) The Corporation 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. Members of the Corporation.

The .members of the Board of Directors shall be the members of the Corporation.

4. Objects of the Corporation.

The objects of the Corporation shall be—

(a) to operate services for the transport of goods, mails and passengers by sea;

(b) to carry on business as shipowners, charterers of ships and vessels, ship brokers, shipping agents and other ancillary services; and

(c) to carry out the building, maintenance, repair and overhaul of ships and vessels.

5. Powers of the Corporation.

(1) The Corporation may exercise all or any of the following powers—

(a) to purchase, charter, build or otherwise acquire, mortgage, sell, exchange and let out on hire or charter, or otherwise deal with or dispose of, any ship or vessel;

(b) to establish, maintain and operate shipping services and all other services ancillary thereto;

(c) to appoint and dismiss such officers and servants as may be necessary for carrying out the work of the Corporation and to determine the terms and conditions of their employment;

(d) to act as agents or sub-agents for any other company, person or persons in Sri Lanka or abroad;

(e) to carry on the business of ship brokers for the purpose of sale or purchase or for the procurement of shipping services;

(f) to carry on business as contractors in respect of shipping and services ancillary thereto;

(g) to carry on all such financial, commercial, trading, technical and other operations for business in connection with the objects of the Corporation as the Corporation may think fit;

(h) to appoint such agents, whether in Sri Lanka or abroad, as the Corporation may deem necessary and to determine the terms and conditions of their appointment;

(i) to appoint, employ or dismiss professional persons, whether in Sri Lanka or abroad, as the Corporation may deem necessary and to determine the terms and conditions of their appointment;

(j) to acquire, hold, take or give on lease or hire, mortgage, pledge and sell or otherwise dispose of, any movable or immovable property;

(k) to do anything for the purpose of advancing the skill of persons employed by the Corporation or the efficiency of the equipment of the Corporation or the manner in which that equipment is operated, including the provision by the Corporation, and the assistance of the provision by others, of facilities for training persons required to carry out the work of the Corporation;

(l) to establish a provident fund and provide welfare and recreational facilities for persons employed by the Corporation;

(m) to construct, manufacture, purchase, maintain and repair anything required for the purpose of carrying out the objects of the Corporation;

(n) to delegate to any officer of the Corporation any such function of the Corporation as the Corporation may consider necessary so to delegate for the efficient transaction of business;

(o) to enter into and perform all such contracts as may be necessary for the performance of the duties and the exercise of the powers of the Corporation;

(p) to make rules in relation to its officers and servants, including their appointment, promotion, remuneration, disciplinary control, conduct and the grant of leave to them;

(q) to make rules in respect of the administration of the affairs of the Corporation;

(r) to do anything necessary for, or conducive or incidental to, the carrying out of the objects of the Corporation;

(s) to acquire, hold or dispose of shares in any organisation in Sri Lanka or abroad, with the approval of the Government;

(t) to promote, with the approval of the Government, any subsidiary organisation in Sri Lanka or abroad which may seem or appear directly or indirectly calculated to benefit the Corporation;

(u) to appoint such Advisory Boards or Committees, and such Local Boards or Committees, with such executive or other functions and upon such terms as to remuneration and otherwise, as the Corporation may deem expedient.

(2) The Minister may by Order authorise the Corporation, subject to such conditions as may be specified in the Order, to carry on any undertaking or business or to do any Act or thing not mentioned in the preceding provisions of this section, if he is satisfied that it is expedient so to do for purposes connected with the efficient discharge and performance of the powers and duties conferred or imposed on the Corporation by such preceding provisions.

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VALUE ADDED TAX (AMENDMENT) ACT, NO. 20 OF 2016


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NATION BUILDING TAX (AMENDMENT) ACT, NO. 22 OF 2016


IMMIGRANTS AND EMIGRANTS (AMENDMENT) ACT, No. 7 OF 2015


LAW COMMISSION (AMENDMENT) ACT, NO. 19 OF 2016


VALUE ADDED TAX (AMENDMENT) ACT, NO. 20 OF 2016


PORTS AND AIRPORTS DEVELOPMENT LEVY (AMENDMENT) ACT, NO. 21 OF 2016


NATION BUILDING TAX (AMENDMENT) ACT, NO. 22 OF 2016


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LAW COMMISSION (AMENDMENT) ACT, NO. 19 OF 2016


VALUE ADDED TAX (AMENDMENT) ACT, NO. 20 OF 2016


PORTS AND AIRPORTS DEVELOPMENT LEVY (AMENDMENT) ACT, NO. 21 OF 2016


NATION BUILDING TAX (AMENDMENT) ACT, NO. 22 OF 2016


IMMIGRANTS AND EMIGRANTS (AMENDMENT) ACT, No. 7 OF 2015


LAW COMMISSION (AMENDMENT) ACT, NO. 19 OF 2016


VALUE ADDED TAX (AMENDMENT) ACT, NO. 20 OF 2016


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NATION BUILDING TAX (AMENDMENT) ACT, NO. 22 OF 2016


IMMIGRANTS AND EMIGRANTS (AMENDMENT) ACT, No. 7 OF 2015


LAW COMMISSION (AMENDMENT) ACT, NO. 19 OF 2016


VALUE ADDED TAX (AMENDMENT) ACT, NO. 20 OF 2016


PORTS AND AIRPORTS DEVELOPMENT LEVY (AMENDMENT) ACT, NO. 21 OF 2016


NATION BUILDING TAX (AMENDMENT) ACT, NO. 22 OF 2016


IMMIGRANTS AND EMIGRANTS (AMENDMENT) ACT, No. 7 OF 2015


LAW COMMISSION (AMENDMENT) ACT, NO. 19 OF 2016


VALUE ADDED TAX (AMENDMENT) ACT, NO. 20 OF 2016


PORTS AND AIRPORTS DEVELOPMENT LEVY (AMENDMENT) ACT, NO. 21 OF 2016


NATION BUILDING TAX (AMENDMENT) ACT, NO. 22 OF 2016


IMMIGRANTS AND EMIGRANTS (AMENDMENT) ACT, No. 7 OF 2015