(1) There shall be established a Centre to be called the Commercial Mediation Centre of Sri Lanka (hereinafter referred to as "the Centre").

(2) The Centre shall, by the name assigned to it by subsection (1). be a body corporate with perpetual succession and a common seal, and may sue and be sued in it's corporate name.

(3) The head office of the Centre shall be in Colombo. The Board of Management of the Centre may establish such branch offices of the Centre as the Board may consider necessary in places in Sri Lanka, outside Colombo.

(a) to promote the wider acceptance of mediation and conciliation for the resolution and settlement of commercial disputes :

(b) to encourage parties to resolve commercial disputes by mediation and conciliation :

(c) to conduct, and facilitate the conduct of proceedings for -

by mediation and conciliation.

(a) to acquire and to hold, property, both movable and immovable, and to pledge or sell, mortgage, give on lease or hire, exchange, or otherwise dispose of. the same :

(b) to accept grants, gifts or donations from persons or bodies of persons, in or outside Sri Lanka ;

(c) to enter into, and perform, all such contracts and agreements as may be necessary for the purposes of discharging its functions ;

(d) to appoint such officers and servants as may be necessary for the discharge of its functions and to exercise disciplinary control over, and dismiss, such officers and servants ;

(e) to determine the remuneration payable to. and the terms and conditions of service of. such officers and servants ;

(f) to charge fees for services and facilities provided by it.

(g) to borrow or raise money, with or without security ;

(h) to open, operate and close, bank accounts ;

(i) to conduct training courses and workshops for the purposes of discharging its functions :

(j) to invest its unutilized moneys in such securities as may be approved by the Minister with the concurrence of the Minister in charge of the subject of Finance; and

(k) to do all such other acts as may be necessary for. or conducive to. for the proper discharge of it's functions.

(1) The administration and management of the affairs of the Centre shall be vested in a Beard of Management (hereinafter referred to as "the Board") consisting of the following members appointed by the Minister: -

(2) A member of the Board may a: any time resign his office by letter in that behalf addressed to the Minister.

(3) The Minister may, for reasons assigned, remove a member of the Board from office.

Where a member of the board dies, resigns or is removed from office, the Minister may, having regard to the provisions of subsection (1), appoint another member in his or her place. The member so appointed shall, unless he or she earlier dies, resigns or is removed from office, hold office for the unexpired period of the term of office of the member whom he or she suceeds.

Subject to the provisions of subsections (2), (3) and (4), the term of office of a member of the Board shall be three years.

A member of the Board vacating office by effluxion of time shall be eligible for reappointment.

(1) The member of the Board shall elect the Chairmen of the Boar from among themselves.

(2) The Chairman of the Board (herein after referred to as " the Chairman ") may resign from the office of Chairman by letter in that behalf addressed to the board.

(3) The Board may by a resolution supported by not less than one half of the total membership of the board , remove the Chairman from the Office of the Chairman.

(4) Subject to the provisions of subsections (2) and (3) the term of office of the Chairman shall be his period of membership of the Board.

(1) If the Chairman is present at a meeting of the Board, he or she shall preside thereat. In the absence of the Chairman from any meeting of the Board, the members present shall elect, a Chairman for that meeting, from among themselves.

(2) The quorum for a meeting of the Board shall be three.

(3) In the event of an equality of votes on any matter to be decided by the Board at a meeting of the Board, the Chairman or the member presiding at that meeting shall, in addition to his or her own vote, have a casting vote.

(4) Subject to the preceding Provisions of this section, the Board may regulate the procedure in regard to its meetings and the transaction of business at such meetings.

(1) The seal of the Centre shall be in the custody of Seal of the Centre. the Chairman or any officer of the Centre authorized by the Chairman

(2) The seal of the Centre may be altered in such manner as may he determined by the Board.

(3) The seal of the Centre shall not be affixed to any instrument or document except with the sanction of the Board and in the presence of the Chairman or a member of the Board authorized in that behalf by the Board, who shall sign the instrument or document in token of his or her presence

(1) The Centre shall have its own Fund. The Fund of the Centre.

(2) There shall be paid to the Fund of the Centre -

(3) There shall be paid out of the Fund of the Centre, all such sums of money as may be required to defray any expenditure incurred by the Board in the exercise, performance and discharge, of the powers, duties and functions of the Centre

(1) The Board shall cause proper accounts to be kept of the income and expenditure, assets and liabilities and all other transactions, of the Centre.

(2) Article 154 of the Constitution shall apply to the audit of the accounts of the Centre.

(1) The Board may make rules for the purpose of giving effect to the principles and provisions of this Act.

(2) Without prejudice to the generality of the powers conferred on it by subsection (1), the Board may make rules in respect of all or any of the following matters :"

(3) No rule made under this section shall have effect until it is approved by the Minister and notification of such approval is published in the Gazette.

(1) No action or prosecution shall be instituted against a member of the Board or an officer or servant of the Centre for any act which is done in good faith by such member, officer or servant under this Act. or on the direction of the Board.

(2) Any expense incurred by the Centre in any action or prosecution brought by or against me Centre before any court shall be paid out of the Fund of the Centre, and any costs paid to, or recovered by . the Centre in any such action or prosecution shall be credited to the Fund of the Centre.

(3) Any expenses incurred by any such person as is referred to in subsection (1) in any action or prosecution brought against that person in any court in respect of any act done by that person under this Act. or on the direction of the Board, shall, if the court holds that such act was done in good faith, be paid out of the Fund of the Centre, unless such expense is recovered by that person in that suit or prosecution.

(1) in computing the period of prescription in regard to any cause of action, the period "

(2) Where in an action instituted in any court, the question arises as to whether the cause of action giving rise to that action is prescribed, a certificate signed by the Chairman of the Board, specifying the dates respectively, on which "

shall be admissible in evidence without proof of signature, and shall be evidence of the facts stated therein.