View All - 1966 Acts Section No : Acts & Ordinances CEYLON HOTELS CORPORATIONMarginal Notes1. This Act may be cited as the Ceylon Hotels Corporation Act, No. 14 of 1966, and shall come into operation on such date* as the Minister may appoint by Order published in the Gazette.2. Establishment of the Ceylon Hotel Corporation. 3. Corporation to be a body corporate. 4. Objects of the Corporation. 5. Powers of the Corporation. 6. Head office. 7. Branches and agencies. 8. Constitution of the board. 9. Chairman and Deputy Chairman of the board. 10. Qualifications of director. 11. Vacation of office of director. 12. Right of nominated director to attend general meeting. 13. Retirement of directors. 14. Order of retirement of directors. 15. Re-election or renomination of directors. 16. Termination of office. 17. Filling up of vacancy in office of elected director. 18. Filling up of vacancy in office of nominated director. 19. Effect of reelection or re-nomination. 20. Who may be proposed for election as director. 21. Casual vacancies among nominated directors. 22. Casual vacancies among elected directors. 23. Acting appointment in case nominated director unable to discharge his duties owing to illness, &c. 24. Acting appointment in case elected director unable to discharge his duties owing to illness, &c. 25. Additional directors. 26. Interests of members of the board. 27. Removal of nominated directors. 28. Removal of elected directors. 29. Loan by Government to the Corporation. 30. Capital. 31. Capital of the ordinary shares how paid. 32. Permanent reserve fund. 33. Contingency fund. 34. Preference and ordinary shares. 35. Conversion of preference shares. 36. Subdivision of shares. 37. Increase and reduction of capital. 38. Liability of shareholders 39. Contracts. 40. Persons authorized to act on behalf of the Corporation. 41. Execution of deeds abroad. 42. Commencement of business. 43. Powers of Minister until commencement of business by the Corporation. 44. Acts commenced by the Minister may be continued by the boards 45. Persons who may execute documents and make payments on behalf of the Government. 46. Funds from which moneys payable under this Act are to be paid. 47. Payment of moneys authorized by this Act to be made. 48. Payments how shown in Ceylon's statement of assets and liabilities. 49. Appointment of officers. 50. Officers to furnish security. 51. Dismissal of general manager. 52. No liability for damage or loss caused otherwise than by misconduct or wilful default. 53. Reimbursement for expenses incurred on behalf of the Corporation 54. Receipts when valid. 55. Inspection of documents. 56. Balance sheet, statement of accounts and reports of directors to be furnished to general meeting, 57. Appointment of auditors. 58. Auditors' report. 59. Copy of accounts to be sent. 60. Balance sheet and statement of accounts conclusive after approval. 61. Application of the provisions of the Companies Ordinance. 62. By-laws of the Corporation. 63. Alteration of Second Schedule. 64. Applications to the Minister. 65. Corporation to be subject to general or special directions of Minister. 66. Interpretation.