View All - 1979 Acts Section No : Acts & Ordinances MAHAWELI AUTHORITY OF SRI LANKAMarginal Notes1. This Act may be cited as the Mahaweli Authority of Short title. Sri Lanka Act, No. 23 of 1979.2. Establishment of the Mahaweli Authority. 3. Special Area of Authority. 4. Directors of the Authority. 5. Director-General of the Authority.6. Term of office of Directors. 7. Disqualification for being appointed as Directors. 8. Vacancy among directors not to invalidate acts and proceedings. 9. Remuneration and terms and conditions of service of Directors. 10. Meetings and quorum at meetings of the Authority. 11. Seal of the Authority. 12. Functions of the Authority. 13. Powers of the Authority. 14. Departments and agencies of the Authority. 15. Empowering of persons to act for Authority outside Sri Lanka. 16. Delegation of powers, &c., of Authority. 17. Staff of the Authority. 18. Appointment of public officers to the Authority. 19. Authority to ensure that financial assistance given for any purpose is utilized for same. 20. Authority not to transact business with enterprise in which a director has interest unless approved by the Minister. 21. Special powers of Authority in respect of certain Departments and Corporations. 22. Special Power of Authority in special Area. 23. Compulsory acquisition of land in any Special Area for the Authority. 24. Possession of land in any Special Area otherwise than under the Land Acquisition Act. 25. Effect of possession under section 24 26. Funds of the Authority and payment to be credited to Fund. 27. Payments out of the Fund. 28. Power of Authority to call upon public corporation &c. to carry out certain functions. 29. Financial year of the Authority. 30. Exemption of Authority from payments of taxes. 31. Exemption from certain taxes of approved subsidiaries and investments therein. 32. Emoluments of experts &c. to be free from taxes &c. 33. Borrowings of the Authority and Government Guarantees. 34. Accounts of the Authority. 35. Incorporation Orders for establishment of Corporations. 36. Corporation to be a body corporate 37. Functions of Corporation. 38. Powers of Corporation. 39. Board of Directors 40. Government Directors. 41. Minister may issue special or general directions to Government Directors. 42. Capital of the Corporation. 43. Liability of shareholders. 44. Shareholder Director. 45. Chairman of Corporation. 46. Managing Director of Corporation. 47. Provisions applicable to Corporation where Authority is not sole shareholder. 48. Application of certain enactments to Corporation.49. Audit of accounts. 50. Power of Corporation to make by-laws. 51. Certain provisions of this Act to apply mutatis mutandis to a Corporation. 52. Powers of Minister to order investigation upon activities. 53. Directions of the Minister. 54. Regulations. 55. Rules. 56. Authority and Corporation to be scheduled institutions within the meaning of the Bribery Act 57. Members, officers and servants of Authority deemed to be public servants. 58. Local authority not to be constituted without concurrence of Minister. 59. Protection for action taken under this Act or on the direction of the Authority. 60. Interpretation.