The Board Of Trustees Of The Ronnie De Mel-Ruhunu University- Trust (Incorporation)

Link to law: http://www.lawnet.lk/process.php?st=2000Y0V0C31A&hword=%27%27&path=2
Published: 2000

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The Board Of Trustees Of The Ronnie De Mel-ruhunu University- Trust (Incorporation)
The Board Of Trustees Of The Ronnie De Mel-ruhunu University- Trust (Incorporation)




AN ACT TO INCORPORATE THE BOARD OF TRUSTEES OF THE RONNIE DE MEL-RUHUNU UNIVERSITY TRUST






Preamble.
WHEREAS a Trust called and known as the "Ronnie de Mel Ruhunu University Trust" has heretofore been created for the purpose of effectually carrying out and transacting ail objects and matters connected with the said Trust:



AND WHEREAS the Board of Trustees of the said Trust has heretofore successfully earned out and transacted the several objects and matters for which the said Trust was created, and has applied to be incorporated, and it will be for the public advantage to grant the application :



BE it therefore enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows :"



[19th July

, 2000 ]













Short title.



1. This Act may be cited as the Board of Trustees of the Ronnie de Mel-Ruhunu University Trust (Incorporation) Act. No. 31 of 2000.



Incorporation of the Board of Trustees of the Ronnie de Mel Ruhuna University Trust.



2. From and after the date of commencement of this Act. such and so many persons as now are members of the Board of Trustees of the Ronnie de Mel-Ruhunu University Trust (hereinafter referred to as "Trust") and whose names are set out in the schedule to this Act or shall hereafter be admitted as members of the Board of Trustees of the said Trust shall be a body corporate (hereinafter referred to as ''the Corporation") with perpetual succession under the name and style of "the Board of Trustees of the Ronnie de Mel-Ruhunu University Trust" and by that name may sue and be sued in all Courts, with full power and authority to have and to use a common seal and to alter the same at its pleasure.



General objects of the Corporation.



3. The general objects for which the Trust is created are the hereby declared to be"





(a) to establish and endow Chairs for academic teaching and research at the Ruhunu University ;



(b) to promote, and advance research and learning, and its application, to the economic development of Sri Lanka ;



(c) to promote research into the history, archaeology, literature, art and culture of Ruhuna ;



(d) to establish residential and welfare facilities for the students of the Ruhunu University under the supervision and control of the University Grants Commission ;



(e) to expand the library facilities at the Ruhunu University ;



(f) to provide adequate playing fields and facilities for sports and recreation at the Ruhunu University ;



(g) to provide financial assistance, and to award scholarships and bursaries, to the students of the Ruhunu University for undergraduate as well as post graduate studies, both in Sri Lanka and abroad ; and



(h) to do all such acts and things as are in the opinion of the Corporation beneficial to the growth of the University of Ruhunu.



Founder of the Trust to be the President for life.



4. The founder of the Trust shall be the President for life, of the Corporation unless he earlier resigns from the said office, and shall nominate his successor to be the President of the Corporation after him.



Powers of the Corporation



5.





(1) Subject to the provisions of this Act and any other written law, and the terms of the trust, the Corporation shall have the power to do all such acts and things as are necessary for or conducive or incidental to the carrying out of the objects of the Trust.



(2) Without prejudice to the generality of the powers conferred by subsection (1), the Corporation shall have the following powers :"





(a) to acquire in any manner whatsoever and hold any property, movable or immovable which may become vested in it by any purchase, grant, gift, device or otherwise ;



(b) to sell, mortgage, lease, convey, devise, assign, exchange or otherwise dispose of any such property ;



(c) to invest funds belonging to the Trust in treasury bonds, treasury bills and such other securities as may be determined by the Corporation ;



(d) to open, operate and close, bank accounts and to borrow or raise money, with or without security :



(e) to engage, employ and dismiss officers and servants required for the carrying out of the objects of the Trust ;



(f) to raise funds and receive grants, gifts or donations in cash or kind : and



(g) to do all such other acts and things as are incidental or conducive for the carrying out of the objects of the Trust.



Rules of the Corporation.



6.





(1) It shall be lawful for the Corporation, from time to time, at any meeting of the members and by a majority of not less than two thirds of the members present and voting, to make rules, not inconsistent with the provisions of this Actor any other written Law. and the terms of the Trust for all or any of the following matters:"





(a) the award of scholarships and the provision of financial assistance to the students of the Ruhunu University ;



(b) the procedure to be followed in the transaction of business at meetings of the Corporation ;



(c) the powers, conduct, duties and functions of the members of the Corporation and various officers and servants of the Corporation ;



(d) the defrayal of such expenses as may be incurred by the Trust for the purpose of carrying out the objects of the Trust;



(e) the administration and management of the property of the Trust, the custody of its funds and the maintenance and audit of its accounts ; and



(f) such other things as may be necessary for the attainment of the objects of the Trust.



(2) Any rule made by the Corporation may be altered, amended or rescinded at a like meeting and in like manner as a rule may be made under subsection (1)



(3) All members of the Corporation shall be subject to the rules in force for the time being of the Corporation.



Fund of the Corporation.



7. The Fund of' the Corporation shall consist of "





(a) all moneys Wing to the credit of the Trust on the day immediately preceding the date of commencement of this Act ; and



(b) all moneys that may accrue to the Corporation after the date of commencement of this Act.



Audit of Accounts.



8.





(1) The Corporation shall cause proper accounts to be kept of all income and expenditure of the Corporation.



(2) The accounts of the Corporation shall be audited annually by the auditors appointed by the Corporation.



Debts due by and payable to the Trust.



9. All debts and liabilities of the Trust existing on the day preceding the date of commencement of this Act, shall be paid by the Corporation and all debts due to the contributions and shares of grant capita; payable to the Trust on that day shall be paid to the Corporation for the purpose of this Act.



Seal of the Corporation.



10. The seal of the Corporation shall be in the custody of the Corporation and it shall not be affixed to any instrument whatsoever, except with the sanction of the Corporation and in the presence of two members of the Corporation who shall sign their names to the instrument in token of their presence and such signing shall be independent of the signing of any person as a witness.



Saving of the rights of the Republic and others.



11. Nothing in this Act contained shall prejudice or affect the rights of the Republic or any body politic or corporate or of any other persons, except such as are mentioned in this Act. and those claiming by, from, or under, them.



Sinhala text to prevail in case of inconsistency.



12. In the event of any inconsistency between the Sinhala and the Tamil texts of this Act, the Sinhala text shall prevail,
Schedules