Young Men's Buddhist Association, Maharagama (Incorporation)

Link to law: http://www.lawnet.lk/process.php?st=1998Y0V0C19A&hword=%27%27&path=2
Published: 1998

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Young Men's Buddhist Association, Maharagama (Incorporation)
Young Men's Buddhist Association, Maharagama (Incorporation)




AN ACT TO INCORPORATE THE YOUNG MEN'S BUDDHIST ASSOCIATION, MAHARAGAMA






Preamble.
WHEREAS an Association called and known as the "Young Men's Buddhist Association, Maharagama" has heretofore been formed for the purpose of effectually 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 is 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 :-



[31st March

, 1998 ]













Short title.



1. This Act may be cited as the Young Men's Buddhist Association, Maharagama (Incorporation) Act, No. 19 of 1998.



Incorporation of the Maharagama Young Men's Buddhist Association.



2. From and after the date of commencement of this Act, such and so many persons as now are members of the Young Men's Buddhist Association, Maharagama (hereinafter referred to as the "Association") or shall hereafter be admitted 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 "Young Men's Buddhist Association, Maharagama " 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 for which the Corporation is constituted are hereby declared to be-





(a) to afford facilities for the study and propagation of the Buddha Dharma ;



(b) to promote Buddhist culture and the Buddhist way of life;



(c) to instill the concepts of unity and co-operation in Buddhist;



(d) to promote the social, physical, cultural, moral and ethical development of the members of the Corporation ;



(e) to encourage members to involve themselves in Buddhist activities ;



(f) to protect and promote the rights of the Buddhists ; and



(g) to do all such other things as are necessary or conducive for the carrying out of the objects of the Corporation.



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 as are necessary or desirable for the promotion or 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 money, 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 Board of Management consisting of the Chairman, three Vice-Chairmen, Secretary, Assistant Secretary, Treasurer, Assistant Treasurer and twenty-four other members elect in accordance with the rules of the Corporation.



(2) The first Board of Management of the Corporation shall consist of the members of the Board of Management of the Association holding office on the day immediately preceding 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 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 Act or any other written law, for all or any of the following matters :"





(a) the classification of membership and the admission, suspension withdrawal, or expulsion of members ;



(b) the election of the office bearers, the resignation from or vacation of, or removal from, office of, office bearers and their powers, conduct and duties ;



(c) the election of the members of the Board of Management and its powers, conduct and duties and the terms of office of members of the Board of Management;



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



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



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



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



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



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



Fund of the Corporation



7.





(1) The Corporation shall have its own fund and all moneys received by way of donation's, testamentary dispositions, transfers, contributions or fees shall be deposited in the name of the Corporation in one or more Banks as the Board of Management shall determine.



(2) All expenses born by the Corporation in the exercise and discharge of powers and functions of the Corporation shall be paid out of the fund of the Corporation.



Debts due by and payable to the Association.



8. All debts and liabilities of the Association 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, subscriptions and contributions payable to, the Association on that day shall be paid to the Corporation for the purposes of this Act.



Corporation may hold property movable of immovable.



9. Subject to the provisions of this Act, and to the rules, in force for the time being of the Corporation, 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 and gift, testamentary disposition or otherwise, and all such property shall be held by the Corporation for the purposes of this Act, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.



Seal of the Corporation.



10. The seal of the Corporation shall be in the custody of the persons as may be determined by the Board of Management and it shall not be affixed to any instrument whatsoever except in the presence of the Chairman, the Secretary and the Treasurer 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 of any body politic or corporate, or 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 any inconsistency



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