Volume V

LALITH ATHULATHMUDALI MAHAPOLA HIGHER EDUCATION SCHOLARSHIP TRUST FUND ACT

Arrangement of Sections

1. Short title.

2. Incorporation of the Lalith Athulathmudali Mahapola Higher Education Trust Fund.

3. Board of Trustees of the Fund.

4. The seal of the Fund.

5. Aims and objects of the Fund.

6. Powers and functions of the Board.

7. Payments into the Fund.

8. Payments out of the Fund.

9. Contracts, of the Trust Fund deemed to be those of Corporation.

10. Accounts and audit.

11. Financial year of the Fund.

12. Exemption of Fund from certain duties and taxes.

13. Protection of members of the Board and officers, of the Fund for action under this Act.

14. No writ to issue against person or property of a member of the Board or officer, of the Fund.

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

15A. Provisions of Offences Against Public Property Act to apply.

16. Fund deemed to be a scheduled institution within the meaning of the Bribery Act.

17. Provision of this Act to prevail over provisions of the Deed.

18. Saving of the rights of the Republic and others.

19. Interpretation.

66 of 1981,

1 of 2022.

AN ACT to incorporate the Lalith Athulathmudali Mahapola Higher Education Scholarship Trust Fund.

[Long title am by s 2 of Act 1 of 2022.]

[Date of Commencement: 29th October, 1981]

1. Short title.

This Act may be cited as the Lalith Athulathmudali Mahapola Higher Education Scholarship Trust Fund Act.

[S 1 am by s 3(1)(a) of Act 1 of 2022.]

2. Incorporation of the Lalith Athulathmudali Mahapola Higher Education Trust Fund.

From and after the date of commencement of this Act, the Lalith Athulathmudali Mahapola Higher Education Trust Fund shall be a body corporate with perpetual succession under the name and style of “The Lalith Athulathmudali Mahapola Higher Education Scholarship Trust Fund”(hereinafter referred to as “the Fund”) and by that name may sue and be sued in all courts, with full power and authority to have and to use a common seal.

[S 2 am by s 3(1)(b) of Act 1 of 2022.]

3. Board of Trustees of the Fund.

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

(2) The Board of Trustees of the Fund (hereinafter referred to as “the Board”) shall consist of the following members—

(a) the founder or his nominee;

(b) a retired Judge of the Supreme Court or a retired Auditor General appointed by the President for a period of three years who shall the Chairman of the Board;

(c) the persons for the time being holding office as—

(i) the Secretary to the Ministry of the Minister to whom the subject of Higher Education is assigned;

(ii) the Secretary to the Ministry of the Minister to whom the subject of Education is assigned;

(iii) the Secretary to the Ministry of the Minister to whom the subject of Trade is assigned; and

(d) two persons appointed by the founder (hereinafter referred to as the “appointed members”) for a period of five years.

[S 3(2) subs by s 4(1) of Act 1 of 2022.]