Public Corporations Act, 1992 (No. 2 of 1992).

This Act concerns establishment, administration, management, etc. of public corporations. The President may by Order establish a public corporation for such functions or purposes as may be specified in the Order. Where the Government is the sole shareholder in a in a public corporation, the Minister responsible for the parent Ministry shall appoint the members to the Board. Every Public Corporation shall a Board of Directors, which shall be responsible for its policy and control and management of the affairs. A public corporation shall operate its business according to sound commercial principles. The Minister may by Order published in the Gazette declare a public corporation to be a specified public corporation. The Board of Directors of any specified public corporation may allow any person or a public corporation to invest in the specified public corporation.