Old Anandians 75-80 Group (Incorporation)

Link to law: http://www.lawnet.lk/process.php?st=1998Y0V0C14A&hword=%27%27&path=2
Published: 1998

Old Anandians 75-80 Group (Incorporation)
Old Anandians 75-80 Group (Incorporation)




AN ACT TO INCORPORATE THE OLD ANANDIANS 75-80 GROUP






Preamble.
WHEREAS an Association called and known as the " Old Anandians 75-80 Group" has heretofore been formed in Sri Lanka for the purpose of carrying out and transacting all objects and 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 such application :



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



[6th April

, 1998 ]













Short title.



1. This Act may be cited as the Old Anandians 75-80 Group (Incorporation) Act, No. 14 of 1998.



Incorporation of the old Anandians 75-80 Group.



2. From and after the date of commencement of this Act. such and so many persons as now are members of the "Old Anandians 75-80 Group" (hereinafter referred to as "the Association") or shall hereafter be admitted as members of the Corporation hereby constituted, shall be a body corporate (hereinafter referred to as "the Corporation") with perpetual succession, under the name and style of the "Old Anandians 75-80 Group" 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 alter the same at its pleasure.



General objects of the Corporation



3. The general objects of the Corporation are declared





(1) to protect the identity, and foster and promote the values and heritage, of Ananda College ;



(2) to assist in the development and overall advancement of Ananda College ;



(3) to organise religious, educational, social, cultural and recreational activities for the welfare and benefit of past students of Ananda College and other citizens of Sri Lanka;



(4) to render all assistance for the development and advancement of other educational institutions in Sri Lanka which are in need of such assistance ; and



(5) to do all such other acts and things as are incidental or conducive to the attainment of the aforesaid objects.



Management of the affairs of the corporation



4.





(1) The affairs of the Corporation shall, subject to the , rules in force for the time being of the Corporation, be administered by a Council of Management (hereinafter referred to as the "Council") consisting of office bearers and such other persons as may be provided for in such rules and elected, appointed or nominated in accordance therewith.



(2) The first Council of Management of the Corporation shall be the Council of Management of the Association holding office on the day immediately preceding the date of commencement of this Act.



Powers of the Corporation.



5. Subject to the provisions of this Act and any other written law the Corporation shall have the power-





(a) to acquire, hold and develop any property, movable or immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition or otherwise ;



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



(c) to appoint, employ, remunerate, exercise disciplinary control over and dismiss, such officers and servants as may be necessary for the purpose of carrying out the objects of the Corporation ;



(d) to receive grants, gifts or donations, in cash or kind, whether from local or foreign sources ;



(e) to establish branches of the Corporation in Sri Lanka or abroad for the purpose of carrying out the objects of the Corporation ;



(f) to open, operate and close bank accounts and to borrow or raise money with or without such security ;



(g) to invest moneys belonging to the Corporation in such securities as may be determined by the Council ; and



(h) to do all such other acts or things as may be necessary or conducive to the carrying out of the objects of the Corporation.



Fund of the Corporation.



6.





(1) The Fund of the Corporation shall consist of-





(a) all moneys lying to the credit of the Association on the day immediately preceding the date of commencement of this Act which shall stand transferred to the Corporation with effect from that date ; and



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



(2) All moneys lying to the credit of the Fund of the Corporation shall be utilized to defray the expenses incurred in the management of the affairs of the Corporation and the accomplishment of its objects.



Rules of the Corporation,



7.





(1) It shall be lawful for the Corporation from time to time at a general meeting 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 (his Act or any other written law, for all or any of the following matters :





(a) the election, appointment or nomination, resignation or removal of the members of the Council and their powers, duties and functions ;



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



(c) the procedure to be observed at, the summoning and holding of, meetings of the council, the time, place, notice and agenda of such meetings, the quorum therefor and the conduct of business thereat;



(d) the qualifications and disqualifications for membership in the Council and the Corporation ;



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



(f) generally, for the management of the affairs of the Corporation and the accomplishment of its objects.



(2) Any rule made under subsection (1) may, at like meeting and in like manner be amended, altered, added to or rescinded.



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



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



Debts due by or payable to the Association



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



How the seal or the Corporation is to be affixed



9. The seat of the Corporation shall be in the custody of the Secretary of the Corporation and it shall not be affixed to any instrument whatsoever except in the presence of the Secretary and such other number of members of the Council as may be provided for in the rules of the Corporation and they shall sign their names to the instrument in token of their presence and such signing shall he independent of the signing of any person as a witness,



Saving 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 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.



11. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.
Read Entire Law on www.lawnet.lk