Sareeram Sri Lanka National Foundation (Incorporation)

Link to law: http://www.lawnet.lk/process.php?st=1999Y0V0C1A&hword=%27%27&path=2
Published: 1999

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Sareeram Sri Lanka National Foundation (Incorporation)
Sareeram Sri Lanka National Foundation (Incorporation)




AN ACT TO INCORPORATE THE SAREERAM SRI LANKA NATIONAL FOUNDATION






Preamble.
WHEREAS an Association Called and Known as the "Sareeram Sri Lanka National Foundation" has heretofore been formed at Thalankudah. Araipattai, Batticaloa District for the purpose of effectually carrying out its objects and transacting all matters connected with the said Association according to the rules agreed to by its members ;



AND WHEREAS the said Association 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 :-



[10th February

, 1999 ]













Short title.



1. This Act may be cited as the Sareeram Sri Lanka National Foundation (Incorporation) Act, No.1 of 1999,



Incorporation of the Sareeram Sri lanka National foundation.



2. From and after the date of commencement of this Act, and so many persons as now are members of the Sareeram sri lanka national foundation or shall hereafter be admitted members of the corporation hereby constituted shall be a body corporate with perpetual succession under the name and style of the "Sareeram Sri Lanka National Foundation" 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 to change and alter the same at its pleasure.



General objects of the Corporation.



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





(a) to maintain peace and harmony among all the communities;



(b) to promote the eradication, racial, linguistic, religious, political and communal differences among the people ;



(c) to promote the establishment of a society uniting the different religious, cultural and economic groups :



(d) to bring the poor and other affected people into the "Awareness Scheme" and encourage them to engage in self employment programmes ;



(e) to encourage add accelerate savings among the people in rural areas ;



(f) to create awareness in the public, about the importance of school education, health education and environmental education ; and



(g) to do all such other acts and things as are incidental or conducive to the attainment of the above objects



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 in force for the time being of the Corporation, be administered by a committee of Management consisting of the president, the secretary and the treasurer of the Corporation and not less than sixteen other persons to be elected in accordance with the rules in force for the time being of the Corporation,



(2) The first Committee of Management of the Corporation shall consist of the members of the Committee of Management of the Foundation holding office on the day preceding the date of commencement of this Act, and whose names are specified in the Schedule to this Act.



Rules of the Corporation.



6.





(1) It shall be lawful for the Corporation, from time to time, at an annual general meeting or at any general meeting of the members summoned for that purpose with two weeks' notice and by a majority of votes 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 or expulsion of members of the Corporation, for the election of office bearers and the Committee of Management, for the procedure to be followed in the transaction of the business by the Committee of Management, and otherwise generally, for the management of the affairs of the Corporation and for the accomplishment of its objects. Such rules when made may at a like meeting and in like manner, be altered, added, amended or rescinded.



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



Debts due by and payable to the Foundation.



7. All debts and liabilities of the Foundation existing on the day immediately 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 movable or and immovable Property.



8. Subject of the provision of this act, the Corporation shall be able and capable in law to take 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 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.



Seal of the Corporation



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.



Savings of 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.
Schedules