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AN ACT TO CREATE A CONTINGENCIES FUND AND TO PROVIDE FOR MATTERS CONNECTED THEREWITH AND INCIDENTAL THERETO.
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[7th September
, 1978 ]
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Short title.
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1. This Act may be cited as the Contingencies Fund Act, and shall be deemed, for all purposes, to have come into force on September 7, 1978.
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Contingencies Fund.
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2.
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(1) A Contingencies Fund (hereinafter referred to as ” the Fund “) is hereby created for use in the circumstances, and in the manner, set out in Article 151 (1) of the Constitution of the Democratic Socialist Republic of Sri Lanka.
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(2) A sum of forty million rupees shall be paid out of the Consolidated Fund to the Fund and such sum shall form part of the Fund.
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(3) There shall be credited to the Fund all such moneys as may from time to time be voted by Parliament as allocations to the Fund.
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Provision relating to advance made from the Contingencies Fund created by Law No. 11 of 1972.
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3.
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(1) Every sum specified in the First Schedule to this Act, being an advance which was made prior to September 7, 1978, from the Contingencies Fund created by the Contingencies Fund Law, No. 11 of 1972*, and which has not been replaced on the 31st day of May, 1979, shall be deemed to be an advance made from the Fund and shall be replaced in accordance with the provisions of paragraph (3) of Article 151 of the Constitution of the Democratic Socialist Republic of Sri Lanka.
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(2) Every sum specified in the Second Schedule to this Act, being an advance which was made prior to September 7, 1978, from the Contingencies Fund created by the Contingencies Fund Law, No. 11 of 1972*, and which was replaced to the Fund operated as a Contingencies Fund during the period commencing on September 7, 1978. and ending on the 31st day of May, 1979. shall be deemed to have been an advance made from the Fund and to have been replaced to the Fund in accordance with the provisions of paragraph (3) of Article 151 of the Constitution of the Democratic Socialist Republic of Sri Lanka.
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Provision relating to sums paid out of the fund which was operated as a Contingencies Fund during the period commencing on September 7, 1978 and ending on the 31st May, 1979.
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4.
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(1) Every sum specified in the Third Schedule to this Act, being a sum which was paid after September 7, 1978, out of the fund operated as a Contingencies Fund during the period commencing on September 7, 1978, and ending on the 31st day of May, 1979, and which has not been replaced to that fund on the 31st day of May, 1979, shall be deemed to be an advance made from the Fund and shall be replaced in accordance with the provisions of paragraph (3) of Article 151 of the Constitution of the Democratic Socialist Republic of Sri Lanka.
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(2) Every sum specified in the Fourth Schedule to this Act, being a sum which was paid after September 7, 1978, out of the fund operated as a Contingencies Fund during the period commencing on September 7, 1978, and ending on the 31st day of May, 1979, and which has been replaced to that fund shall be deemed to have been an advance made from the Fund and to have been replaced to the Fund in accordance with the provisions of paragraph (3) of Article 151 of the Constitution of the Democratic Socialist Republic of Sri Lanka.
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The aggregate of the sums specified in the First, Second, Third and Fourth Schedules deemed to have been paid out of the Consolidated Fund to the Fund.
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5. The aggregate of the sums specified in the First, Second, Third and Fourth Schedules to this Act shall, when replaced to the Fund, be deemed to have been paid out of the Consolidated Fund to the Fund, as a part of the sum of forty million rupees referred to in subsection (2) of section 2.
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Custody and accounts of the Fund
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6. The Secretary to the Ministry charged with the subject of Finance shall have the custody of the Fund and shall keep accounts relating thereto; Provided, however, that such Secretary may delegate any of his powers and duties in relation to the Fund to any public officer.
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Schedules
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