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Short title.
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1. This Act may be cited as the Abdul Majeed Mohamed Sahabdeen Trust Foundation (Incorporation) Act, No. 3 of 1991.
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Incorporation of the Abdul Majeed Mohamed Sahabdeen Trust Foundation.
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2. From and after the date of commencement of this Act. the members for the time being of the Board of Trustees of the Abdul Majeed Mohamed Sahabdeen Trust Foundation (hereinafter referred to as “the Trust”) or shall hereafter be admitted as members of the Board of Directors of the Corporation hereby constituted, shall be a body corporate with perpetual succession under the name and style of ” Abdul Majeed Mohamed Sahabdeen Trust Foundation ” (hereinafter referred to as “the Corporation ”) and by that name may sue or 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.
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General objects of the Corporation.
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3. The general objects for which the Corporation is constituted are hereby declared to be”
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(a) to promote the advancement of education and knowledge and to provide scholarships and any form of financial assistance to scholars and researchers ;
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(b) to set up, construct and maintain, or assist others to set up, construct and maintain, orphanages, homes for the aged, hospitals, clinics, welfare centres, educational institutes, places of worship and vocational training centres;
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(c) to promote, encourage and assist in, activities for the relief of poverty and distress caused by disasters and natural calamities;
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(d) to promote, encourage, assist and undertake activities connected with the preservation of wild life, animal welfare, protection of fauna and flora and conservation of the environment;
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(e) to conduct and hold seminars, conferences, workshops, discussions, debates, art exhibitions, music recitals and similar activities for the purpose of promoting knowledge and the arts ;
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(f) to collect, classify, print, publish and distribute books, journals, and magazines ;
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(g) to commemorate or honour the names of outstanding persons and institutions by the grant of awards prizes, scholarships, fellowships, and or by the setting up of institutions or establishments for the aforesaid purpose ;
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(h) to promote, encourage assist and foster, activities for the advancement of communal, national and international understanding, religious harmony, goodwill and peace amongst people ;
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(i) to do all such acts and things not inconsistent with the provisions of this Act or any other written law as are, in the opinion of the Board of Directors, conducive to furtherance of the above objectives.
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Management of the affairs of the Corporation.
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4.
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(1) Subject to the provisions of subsection (2), the administration, management and control of the Corporation shall, subject to the rules of the Corporation, be vested in the Board of Directors (hereinafter referred to as “the Board “) consisting of such number of members as may be provided for in such rules and appointed, elected or nominated, as the case may be, in accordance with, such rules.
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(2) The members of the Board of Trustees of the Trust holding office on the day preceding the date of commencement of this Act, shall be deemed to be members of the first Board.
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Rules of the Corporation.
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5.
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(1) It shall be lawful for the Board, from time to time, at any meeting of the Board and by a majority of not less than two-thirds of the members present, to make rules not inconsistent with the provisions of this Act or any other written Law, for election, appointment or nomination of the Board, for the conduct of the duties of the Board and of the various officers, agents and servants of the Corporation, for the procedure in the transaction of business, and otherwise generally for the management of 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.
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(2) The members of the Board shall at all times be subject to the rules of the Corporation.
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Fund of the Corporation.
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6.
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(1) The Fund of the Corporation shall consist of”
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(a) all moneys lying to the credit of the Trust on the day immediately preceding the date of commencement of this Act which shall stand transferred to the Corporation from that date ; and
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(b) all moneys that may accrue to the Corporation after the date of commencement of this Act.
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(2) All moneys lying to the credit of the Fund shall Be utilised to defray the expenses incurred in the management of the affairs of the Corporation and the accomplishment of its objects’.
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Debts due by and payable to the Trust.
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7. All debts and liabilities of the Trust subsisting 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 Trust on that day shall be paid to the Corporation for the purpose of this Act.
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Powers of the Corporation.
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8.
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(1) Subject to the provisions of this Act and any other written law, the Board shall in the name of the Corporation have the power to do all such things as are necessary for or conducive or incidental to the carrying out of the objects of the Corporation.
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(2) Without prejudice to the generality of the powers conferred by subsection (1), the Board may exercise and discharge the following powers and functions:”
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(a) to acquire, hold and develop any property movable or immovable which may become vested in it by virtue of any purchase, grant, gift, device or otherwise ;
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(b) to sell, mortgage, lease, or grant, convey, devise: assign, exchange or otherwise dispose of, any such property ;
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(c) to invest moneys belonging to the Corporation in such securities as may be determined by the Board ;
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(d) to open, operate and close bank accounts and to borrow or raise money with the property of the Corporation as security, or without such security, for the purposes of the Corporation ;
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(e) to raise funds and receive grants, gifts or donations in cash or kind ;
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(f) to appoint such officers and servants as may be necessary for the purposes of the Corporation, and to dismiss and take disciplinary action against such officers and servants ; and
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(g) to do all such other acts and things as are incidental or conducive to the carrying out of the objects of the Corporation.
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Seal of the Corporation.
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9. The seal of the Corporation shall be in the custody of the Secretary and may be altered in such manner as may be determined by the Board. The seal shall not be affixed to any instrument whatsoever, except with the sanction of the Board and in the presence of two members of the Board who shall sign the instrument in token of their presence. Such signing shall be independent of the signing of any person as a witness.
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Savings of the rights of the Republic and others.
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10. Nothing in this Act contained shall, prejudice or affect the rights of the Republic or of any body corporate or of any other person, except such as are mentioned in this Act and those claiming by, from, or under, them.
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Sinhala text to prevail in case of inconsistency.
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11. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail,
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