Section No :  
Legislative Enactments
CEYLON SHIPPING CORPORATION
Marginal Notes
1. This Act may be cited as the Ceylon Shipping Corporation Act.
2. Establishment of the Ceylon Shipping Corporation.
3. Members of the Corporation.
4. Objects of the Corporation.
5. Powers of the Corporation.
6. Powers of the Minister in relation to the Corporation.
7. Board of Directors.
8. Remuneration of Directors.
9. Director to disclose interest in contract proposed to be made by the Corporation.
10. Quorum for meeting of Board of Directors.
11. Regulation of procedure.
12. Board of Directors may act despite vacancy.
13. Board of Directors to administer the affairs of the Corporation.
14. Delegation of powers and duties of Board of Directors.
15. Chairman of Board of Directors.
16. Appointment of General Manager.
17. Seal of the Corporation.
18. Capital of the Corporation.
19. Borrowing powers of the Board of Directors.
20. Investment of moneys.
21. Application of the revenue of the Corporation.
22. Appropriation of net surplus revenue of the corporation
23. Operation of reserves of the Corporation.
24. Payment to the Consolidated Fund.
25. Reduction of the capital of the Corporation.
26. Accounts and financial year.
27. Audit of accounts.
28. Contracts.
29. Bills of exchange and promissory notes.
30. Execution of deeds abroad.
31. Receipts when valid.
32. Officers and servants of the Corporation deemed to be public servants within the meaning and for the purposes of the Penal Code.
33. The Corporation deemed to be a scheduled institution within the meaning of the Bribery Act.
34. Appointment of public officers, members of the Local Government Service and officers and servants of local authorities to the staff of the Corporation.
35. Acquisition of land under the land Acquisition Act for the Corporation.
36. Regulations.
37. Company law not to apply to the Corporation.
38. Interpretation.
39. Succeeding provisions of this Act to prevail over other written law, & c.
40. Vesting of the assets and liabilities of the Ceylon Shipping Corporation Limited in the Corporation.
41. Effect of the establishment of the Corporation.
42. Compensation to be payable in respect of certain shares of the Ceylon Shipping Corporation Limited vested in the Corporation.
43. Special provision relating to the annual general meeting for 1970 of the Ceylon Shipping Corporation Limited.
44. Power of Minister to make Orders relating to the dissolution of the Ceylon Shipping Corporation Limited.