Public Service Pensioners Trust Fund act

Arrangement of Sections

1. Short title.

2. Establishment of the Public Service Pensioner's Trust Fund.

3. Executive Committee.

4. General council.

5. Meetings of the General Council.

6. Quorum at Annual Meeting.

7. Meetings of the Executive Committee.

8. Quorum at Special Meeting.

9. Meetings of the Executive Committee.

10. The object of the Fund.

11. Powers and functions of the Executive Committee.

12. Seal of the Fund.

13. Monthly deduction from pensions.

14. Payment to the Fund.

15. Payment out of Fund.

16. Audit and Accounts.

17. Power to make rules.

18. Protection of members of the Executive Committee for action taken under this Act.

19. No writ to issue against person or property of member of the Executive Committee.

20. Fund deemed to be a Scheduled Institution within the Bribery Act.

21. Sinhala text to prevail in case of inconsistency.

22. Interpretation.

40 of 1999.

AN ACT to provide for the establishment of a trust fund called the Public Service Pensioners Trust Fund; to specify its objects and powers and to provide for matters connected therewith or incidental thereto.

[Date of Commencement: 30th November, 1999]

1. Short title.

This Act may be cited as the Public Service Pensioners Trust Fund Act.

2. Establishment of the Public Service Pensioner's Trust Fund.

(1) There shall be established a Trust Fund which shall be called the Public Service Pensioners Trust 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. Executive Committee.

(1) The administration, management and control of the Fund shall be vested in an Executive Committee constituted as hereinafter provided, subject to the direction and control of the General Council.

(2) The Executive Committee shall consist of—

(a) a Chairman, three Vice-Chairman, a Secretary, an Assistant Secretary, a Treasurer and an Assistant Treasurer, elected by the General Council; and

(b) one representative from each district level Pensioner's Association.

(3) A member of the Executive Committee shall, unless he dies, resigns from office by letter addressed to the Chairman or Secretary, or is removed from office by the General Council or the district level Pensioner's Association, as the case may be, hold office from the date of his election or nomination, as the case may be, until the next Annual General Meeting of the General Council.

4. General council.

The General Council shall consist of the members of the Executive Committee, one representative from each district level Pensioner's Association and one representative from each divisional level Pensioner's Association. It shall be the duty of the General Council to determine the guidelines for the administration and management of the Fund, by the Executive Committee.

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