Pasyodunrata Development Foundation

Link to law: http://www.lawnet.lk/process.php?st=1999Y0V0C5A&hword=%27%27&path=2
Published: 1999

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Pasyodunrata Development Foundation
Pasyodunrata Development Foundation




AN ACT TO INCORPORATE THE PASYODUNRATA DEVELOPMENT FOUNDATION.






Preamble.
WHEREAS a foundation called and known as the "Pasyodunrata Development Foundation" has heretofore been formed at Matugama for the purpose of effectively carrying out the objects of the said Foundation and transacting all matters connected with the said Foundation according to the rules agreed to, by its members :



AND WHEREAS the said Foundation has heretofore successfully carried out and transacted the several objects and matters for which it was formed 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 :-



[26th March

, 1999 ]













Short title.



1. This act may be cited as the Pasyodunrata Development Foundation (Incorporation) Act, No. 5 of 1999.



Incorporation of the Pasyodunrata Development Foundation.



2. From and after the date of commencement of this Act. such and so many persons as are members of the Pasyodunrata Development Foundation hereinafter referred to as "the Foundation")or shall hereafter be admited as members of the corporation hereby constituted shall be a body corporate with perpetual succession under the name and style of the "Pasyodunrata Development Foundation" (hereinafter referred to as "the Corporation") and by that name may sue and be sued in all courts with full power and authority to have and use a common seal and alter the same at its pleasure.



General objects.



3. The general objects for which the Corporation is constituted are hereby declared to be-





(a) to promote community based organisations ;



(b) to builed up the capacity of such organisations .



(c) to promote the education of the under privileged ;



(d) to carry out relief, rehabilitation and reconstruction programmes ;



(e) to promote health education, and to provide information on the eradication of malnutrition ;



(f) to further, the welfare and development of the under privileged ;



(g) to promote income generating projects in the plantations as well as in the villages, and to launch self help projects, with a view to generating employment ;



(h) to provide assistance to relive distress caused by natural disasters such as floods, cyclones and droughts ;



(i) to disseminate knowledge and information on improved methods of agriculture, horticulture, aquaculture, sericulture, animal husbandry, fresh water fisheries and bee keeping, through the publication and distribution of books and pamphlets and the conduct of seminars, workshops, lectures and film shows ;



(j) to promote thrift among the under privileged.



General powers of the Corporation.



4. Subject to the provisions of this Act, and any other Written law, the Corporation shall have the power to do, perform and execute all such acts, matters and things whatsoever, as are necessary or desirable for the promotion and furtherance of the objects of the Corporation or any one of them, including the power to open, operate and close bank accounts, to borrow or raise moneys, with or without security, to receive or collect grants and donations, to invest, its funds, and to engage employ and dismiss officers and servants required for the carrying out of the objects of the Corporation.



Management of the affairs of the Corporation.



5.





(1) The affairs of the Corporation shall, subject to the rules inforce for the time being of the Corporation, be administered by a Board of Management consisting of the office-bearers and such other persons as may be provided for in such rules and elected in accordance therewith.



(2) The first Board of Management of the Corporation shall be the Board of Management of the Foundation holding office on the day prior to the date of commencement of this Act.



Rules of the Corporation.



6.





(1) It shall be lawful for the Corporation, from time to time, at any general meeting of the members and by majority of the votes, of not less than two-thirds of the members present and voting to make rules not inconsistent with the provisions of this Act. or any other written law for the admission, withdrawal, resignation, retirement or expulsion of members, for the election of the office-bearers of the Board of Management and for the conduct of the duties of the Board of Management and of the various officers, agents and servants of the Corporation by the Board of Management for the procedure to be followed in the transaction of business, and otherwise generally, for the management of the affairs of the Corporation and the accomplishment of its objects. Such rules when made may, at a like meeting and in like manner, be altered, added to, amended or rescinded.



(2) The rules of the Foundation in force on the day prior to the date of commencement of this Act, shall be deemed to be the rules of the Corporation made under this section in so far as they are not inconsistent with the provisions of this Act, or any other written law.



(3) The members of the Corporation shall be subject to the rules of the Corporation.



Debts due to and payable by the Corporation,



7. All debts and liabilities of the Foundation existing on the day preceding the date of commencement of this Act, shall be paid by the Corporation hereby constituted and all debts due to and subscriptions and contributions payable to, the foundation on that day shall be paid to the Corporation for the purposes of this Act.



Corporation may hold property movable and immovable.



8. The Corporation shall be capable in law to acquire and hold any property, movable or immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition or otherwise, and all such property shall be held by the Corporation for the purposes of this Act and shall subject to the rules in force for the time being of the Corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.



How the seal of the Corporation is to be affixed.



9. The seal of the Corporation shall not be affixed to any instrument whatsoever, except in the presence of two members authorized for that purpose by the corporation, who shall sign their name to the independent of the singing of any person as a witness.



safeguarding the rights of the republic and others.



10. Nothing in this act contained shall prejudice or affect the rights of the republic or any body political or corporate or of any other person expect such as are mentioned in this act and claiming by from or under, them.



Sinhala text to Prevail in case of inconsistency.



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