ACT, No. 29 OF 2007

29of2007.pdf
NadunReplacecont

PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
GNANODAYA FOUNDATION
(INCORPORATION) ACT, No. 29 OF 2007
[Certified on 31st July, 2007]
Printed on the Order of Government
Published as a Supplement to Part II of the Gazette of the Democratic
Socialist Republic of Sri Lanka of August 03, 2007
PRINTEDAT THE DEPARTMENTOFGOVERNMENT PRINTING, SRILANKA
TO BEPURCHASED AT THEGOVERNMENT PUBLICATIONSBUREAU, COLOMBO 5
Price : Rs. 6.00 Postage : Rs. 5.00

Gnanodaya Foundation (Incorporation) 1
Act, No. 29 of 2007
[Certified on 31st July, 2007]
L.D.—O. Inc 15/2005.
ANACTTO INCORPORATETHE GNANODAYA FOUNDATION
WHEREAS an Association called and known as the Preamble.
“Gnanodaya Foundation ” has heretofore been formed in
Polgasovita, Wethara 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 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 :–
1. This Act may be cited as the Gnanodaya Foundation Short title.
(Incorporation) Act, No. 29 of 2007.
2. From and after the date of commencement of this Act. Incorporation of
such and so many persons as now are members of the the Gnanodaya
Foundation.
Gnanodaya 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 “Gnanodaya
Foundation” and by that name may sue and be sued, with full
power and authority to have and use a common seal and to
alter the same at its pleasure.
3. The general objects for which the Corporation is General objects
established are hereby declared to be — of the
Corporation.
(a) to establish and maintain orphanages, homes for
the aged and social welfare centers ;
2—PL 002136–3,300 (05/2007)
2 Gnanodaya Foundation (Incorporation)
Act, No. 29 of 2007
(b) to provide medical assistance, food and housing to
the poor, the destitute and the sick ;
(c) to provide welfare facilities for the deaf, dumb and
the blind and disabled persons ;
(d) to assist financially by granting scholarships to the
students who are engaged in the attainment of the
objects of the Corporation ;
(e) to establish and maintain libraries, to subscribe for
and issue books, journals, souvenirs and periodicals
and to provide such other services as may be deemed
desirable for attaining the objects of the
Corporation;
(f) to promote, arrange, organize and hold exhibitions,
lectures, seminars, symposia, workshops, classes,
debates, conferences, tours, excursions or any other
activities as are needed by the students ; and
(g) to co-operate and associate with other associations,
societies or organizations having objects similar to
those of the Corporation ;
General powers 4. Subject to the provisions of this Act, and any other
of the written law, the Corporation shall have the power to do,
Corporation.
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, maintain 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 5. (1) The affairs of the Corporation shall, subject to the
the affairs of the other provisions of this Act, the rules of the Corporation made
Corporation.
under Section 6, be administered by a Board of Management
Gnanodaya Foundation (Incorporation) 3
Act, No. 29 of 2007
consisting of President, Deputy President, two Vice Presidents,
Secretary, two Assistant Secretaries, Treasurer, the Director-
General, and not less than ten 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 Gnanodaya Foundation holding office on the day
immediately preceding the date of commencement of
this Act.
6. (1) It shall be lawful for the Corporation, from time to Rules of the
time, at any general meeting and by a majority of not less Corporation.
than two-thirds of the members present and voting, to make
rules, not inconsistent with the provisions of this Act or 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
Management other than the its powers, conduct and
duties and the terms of office of the members of the
Board of Management ;
(d) the powers, duties and functions of the 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 ;
4 Gnanodaya Foundation (Incorporation)
Act, No. 29 of 2007
(f) the administration and management of the property
of the Corporation ; and
(g) generally, for the management of the affairs of the
Corporation.
(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 7. (1) The Corporation shall have its own fund and all
Corporation. moneys received by way of gifts, testamentary dispositions,
transfers, donations, contributions or fees shall be credited in
the name of the Corporation in one or more banks as may be
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 borne by the Corporation in the exercise,
and discharge of the powers and functions of the Corporation
shall be paid out of the fund.
Accounts and 8. (1) The financial year of the Corporation shall be
Audit. the calendar year.
(2) The Corporation shall cause proper accounts to be
kept of its income and expenditure, assets and liabilities and
all other transactions of the Corporation.
(3) The accounts of the Corporation shall be audited by
a qualified aiditor.
Gnanodaya Foundation (Incorporation) 5
Act, No. 29 of 2007
(4) In this section, “qualified auditor” means —
(i) an individual who being a member of Institute
of Chartered Accountants of Sri Lanka or of any
other Institute establidhed by law, possesses a
certificate to practise as an Accountant issued by
the Council of such Institute; or
(ii) a firm of Accountants each of the resident partners
of which, being a member of the Institute of
Chartered Accountants of Sri Lanka or of any
other Institute established by law, possesses a
certificate to practise as an Accountant issued by
the Council of such Institute.
9. All debts and liabilities of the Foundation existing Debts due by
on the day preceding the date of commencement of this Act, and payable to
the foundation.
shall be paid by the Corporation hereby constituted and all
debts due to, subscriptions and contributions payable to the
Foundation on the day shall be paid to the Corporation for
the purposes of this Act.
10. The Corporation shall be able and capable in law, to Corporation may
hold property
acquire and hold any property, movable or immovable which
movable or
may become vested in it by virtue of any purchase, grant, immovable.
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 of the Corporation and it
shall have full power to sell, mortgage, lease, exchange or
otherwise dispose of the same.
11. The seal of the Corporation shall not be affixed to How the Seal of
any instrument whatsoever except in the presence of the the Corporation
is to be affixed.
President and the Secretary or the Treasurer of the Corporation
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.
6 Gnanodaya Foundation (Incorporation)
Act, No. 29 of 2007
Property 12. If upon the dissolution of the Corporation, there
remaining on remains after the satisfaction of all its debts and liabilities,
dissolution.
any property whatsoever, such property shall not be
distributed among the members of the Corporation, but shall
be given or transferred to some other Association or
Associations having objects similar to the objects of the
Corporation, and which is or are by the rules thereof
prohibited from distributing any income or property among
its or their members. Such Association or Associations shall
be determined by the members of the Corporation at, or
immediately before, the time of the dissolution of the
Corporation.
Saving of the 13. Nothing in this Act contained shall prejudice or
rights of the affect the rights of the Republic or of any body politic or
Republic and
corporate or of any other persons, those claiming by, from, or
others.
under them.
Sinhala text to 14. In the event of any inconsistency between the Sinhala
prevail in case of and Tamil texts of this Act, the Sinhala text shall prevail.
inconsistency.

Annual subscription of English Bills and Acts of the Parliament Rs. 885 (Local), Rs. 1,180
(Foreign), Payable to the SUPERINTENDENT, GOVERNMENT PUBLICATIONS BUREAU, DEPARTMENT OF
GOVERNMENT INFORMATION, NO. 163, KIRULAPONA MAWATHA, POLHENGODA, COLOMBO 05 before 15th
December each year in respect of the year following.
NadunReplacecontEnd