Dharmaraja Foundation (Incorporation)

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Published: 1997

Dharmaraja Foundation (Incorporation)
Dharmaraja Foundation (Incorporation)




AN ACT TO INCORPORATE THE DHARMARAJA FOUNDATION






Preamble.
WHEREAS a Foundation called and known as the "Dharmaraja Foundation" has heretofore been formed for the purpose of effectually carrying out, and transacting, all objects and 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 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 :-



[24th June

, 1997 ]













Short title.



1.This Act may be cited as the Dharmaraja Foundation (Incorporation ) Act, No. 9 of 1997.



Incorporation of the Dharmaraja Foundation.



2. From and after the date of commencement of this Act, such and so many persons as now are members of the "Dharmaraja Foundation" (hereinafter referred to as the "Foundation") 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 "Dharmaraja 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 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 establish a centre for the educational, cultural, social, health and spiritual development and practice for Buddhists ;



(b) to utilize the skills and voluntary effort of people for their own development;



(c) to obtain necessary resources for its development programmes and to implement such programmes ;



(d) to conduct study groups, seminars, workshops, lectures, discussions, debates, Daham schools and Poya day programmes;



(e) to award grants, scholarships, bursaries, and prizes, for the study of Buddhism and Buddhist Cultures ;



(f) to give, receive and collect, gifts, grants, donations, subsidies, and subscriptions, whether in cash or kind;



(g) to aid and assist students in need of any aid or assistance



(h) to establish and maintain libraries, reading rooms and a Centre for training ;



(i) to collect, print, publish, distribute, books, journals and magazines ;



(j) to collaborate with other organisations with similar objects ;



(k) to act as trustees; and



(l) to promote the development of Dharmaraja College.



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 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 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 Corporations.



Management of the affairs of the Corporation.



5.





(1) The affairs of the Corporation shall, subject to the provisions of this Act and the rules in force for the time being of the Corporation, be administered by a Board of Management consisting of the Chairman, the Honorary Secretary, the Honorary Treasurer and not less than six other members elected in accordance with such rules.



(2) The First Board of Management of the Corporation shall consist of the members of the Board of Management of the Foundation holding office on the day immediately preceding the date of commencement of this Act and whose names are specified in the Schedule hereto.



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, 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 the Management and its powers, conduct and duties and the term 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 times, places, notices 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 the 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 unlike manner , as a rule made under subsection



(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 gifts ,testamentary dispositions, transfers, donations, or contributions shall be deposited in the name of the Corporation in one or more banks as maybe decided by the board of Management



(2) The Corporation may establish a depreciation fund or a sinking fund for the purpose of rehabilitation, development or improvement of the property of the Corporation



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



Debts due by and payable to the Corporation



8. All debts and liabilities of the Foundation existing on the day preceeding 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



9. The corporation shall be able and capable in law ,to acquire and hold any property ,movable or immovable ,which may become crested in it by virtue of any purchase ,grant ,gift, or 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 being of the Corporation ,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 not be affixed to any instrument whatsoever, except in the presence of the Chairman and either the Honorary Secretary or the Honorary 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, 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 Tamil texts of this Act, the Sinhala text shall prevail.
Schedules
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