Contingencies Fund

Contingencies Fund

AN ACT TO CREATE A CONTINGENCIES FUND AND TO PROVIDE FOR MATTERS CONNECTED THEREWITH AND INCIDENTAL THERETO. Preamble.

WHEREAS by Law No. 11 of 1972, a Contingencies Fund was created in terms of Section 87(1) of the Constitution adopted and enacted on May 22, 1972:

And whereas the aforesaid Constitution was repealed with effect from September 7, 1978 :

And whereas Article 151(1) of the Constitution which came into force on September 7, 1978, provides for the creation of a Contingencies Fund:

And whereas it has now become necessary to create a Contingencies Fund in pursuance of the aforesaid Article 151 (1) and to validate certain payments made to, and from a fund which has been operated since September 7, 1978, as a Contingencies Fund :

Now, therefore, be it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows :-

Short title.

1. This Act may be cited as the Contingencies Fund Act, No. 35 of 1979, and shall be deemed for all purposes, to have come into force on September 7, 1978.

Contingencies Fund.

2.

(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.

(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.

(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.

Provision relating to advance made from the Contingencies Fund created by Law No. 11 of 1972.

3.

(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 at the date of enactment of this Act 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.

(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 date of enactment of this Act, 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.

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 date of enactment of this Act.

4.

(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 date of enactment of this Act and which has not been replaced to that fund on the date of enactment of this Act 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.

(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 date of enactment of this Act, 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.

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.

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.

Custody and accounts of the Fund.

6. The Secretary to the Ministry of the Minister in charge of 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.