View All - 2005 Acts Section No : Acts & Ordinances UDARATA DEVELOPMENT AUTHORITY OF SRI LANKAMarginal Notes1. This Act may be cited as the Udarata Development Authority of Sri Lanka Act, No. 26 of 2005 and shall come into operation on such date as the Minister may, appoint by Order published in the Gazette.2. Establishment of the Udarata Development Authority of Sri Lanka. 3. Area of Authority. 4. Constitution of the Board of Management of the Authority. 5. Chairman of the Authority. 6. Disqualification from being a member of the Board. 7. Removal and resignation of appointed members. 8. Term of office of members. 9. Meetings of the Board. 10. Remuneration of members. 11. Acts not invalidated by reason of a vacancy. 12. Authority to comply with the general policy the Government. 13. Seal of the Authority. 14. Objects of the Authority. 15. Powers, duties and functions of the Board. 16. Powers of the Board to enter into any agreement. 17. Empowering of persons to act for Authority outside Sri Lanka. 18. Power of Board to issue directions to any government department or corporation. 19. Compulsory acquisition of land. 20. State property both movable and immovable to be made available to the Authority. 21. Fund of the Authority. 22. Power of the Authority to call upon any public corporation or government department to assist in the discharge of duties carry out certain functions. 23. Authority to maintain accounts. 24. Exemption of Authority from payment of duties & c. 25. Financial year and audit of accounts. 26. Borrowing powers of the Board and Government Guarantees. 27. Director General. 28. Staff of the Authority. 29. Appointment of officers and servants of public Corporations to the staff of the Authority. 30. Delegation of powers of the Board. 31. Authority to ensure that financial assistance given for carrying out development projects is utilized for the same. 32. Authority not to transact business with enterprises in which a member has interest, unless approved by the Minister. 33. Powers of Minister to order investigations upon activities. 34. Directions of the Minister. 35. Authority deemed to be scheduled institution within the meaning of the Bribery Act. 36. Members, officers and servants of the Authority deemed to be public servants. 37. Protection for action taken under this Act or on the direction of the Authority. 38. Regulations. 39. Rules. 40. Sinhala text to prevail in case of inconsistency. 41. Interpretation.