ACT, No. 32 OF 2007

32of2007.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
FOUZ TRUST (INCORPORATION)
ACT, No. 32 OF 2007
[Certified on 10th August, 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 10, 2007
PRINTEDAT THE DEPARTMENTOFGOVERNMENT PRINTING, SRILANKA
TO BEPURCHASED AT THEGOVERNMENT PUBLICATIONSBUREAU, COLOMBO 5
Price : Rs. 6.00 Postage : Rs. 5.00

Fouz Trust (Incorporation) 1
Act, No. 32 of 2007
[Certified on 10th August, 2007]
L.D.—O. INC 8/2005.
ANACT TO INCORPORATE THE FOUZ TRUST
WHEREAS a Trust Called and known as the “Fouz Trust” Preamble.
has heretofore been created for the purpose of effectually
carrying out and transacting all objects and matters connected
with the said Trust :
AND WHEREAS the Trustees of the said Trust has heretofore
successfully carried out and transacted the several objects
and matters for which the said Trust was created, and has
applied to be incorporated and it will be for the public
advantage to grant the 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 Fouz Trust (Incorporation) Short title.
Act, No. 32 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 Board the Fouz Trust.
of Trustees of the Fouz Trust (hereinafter referred to as
the“Trust”) and hereafter be admitted as members of the said
Trust shall be a body Corporate with perpetual succession
under the name and style of “Fouz Trust” (hereinafter referred
to as the “Corporation”) and by that name may sue and be
sued with full power and authority to have and to use a
common seal and to alter the same at its pleasure.
3. The general objects for which the Trust is created are General objects
hereby declared to be — of the
Corporation.
(a) to improve the standard of education of the Muslim
Students and to develop the less resourceful Tamil
medium schools in Southern Province;
2 —PL 001965—3,300 (04/2007)
2 Fouz Trust (Incorporation)
Act, No. 32 of 2007
(b) to provide educational materials in Sinhala
Language to Muslim Students studying in Sinhala
Medium;
(c) to create employment opportunities for the Muslim
unemployed youths in the Southern Province and
to provide them with financial assistance and guide
for self employment;
(d) to advocate the abolition of the dowry system among
Muslims;
(e) to grant financial assistance and award scholarships
to youth for the purpose of pursuing higher
education ;
(f) to assist financialy, the needy muslim women in
their Nikkah ceremony; and
(g) to introduce a housing scheme for the homeless
Muslims.
Powers of the 4. The Corporation shall, subject to the provisions of
Corporation. this Act and any other written law, have the power—
(a) to appoint, remunerate, dismiss and exercise
disciplinary control over the officers and servants
as may be necessary for the purposes of the
Corporation;
(b) to receive or collect any aid, grant or gift in cash or
in kind from any person, or body of persons,
corporate or otherwise for the carrying out of the
objects of the Corporation;
(c) to establish branch organizations of the Corporation
in foreign countries for the purpose of achieving all
or any of the objects of the Corporation ;
(d) to borrow or raise money, for the furtherance of the
objects of the corporation, and to execute any
mortgage or bond to secure the payment of the
money so borrowed or raised; and
Fouz Trust (Incorporation) 3
Act, No. 32 of 2007
(e) to enter into or perform, either directly or through
its officers or servants or agents authorized in that
behalf of the Corporation, all such contracts and
agreements as may be necessary for carrying out of
the objects of the Corporation.
5. (1) The affairs of the Corporation shall be subject to Management of
the provisions of this Act and the rules of the Corporation, be the affairs of the
Corporation.
administered by the president and number of members elected
in accordance with the rules of the Corporation.
(2) Notwithstanding anything contained in subsection
(1) of this section, Mr. M. L. Fouz, the founder President of
the Trust shall be the first Trustee-President of the
Corporation.
6. The Corporation shall be able and capable in law, to Corporation may
acquire and hold property both movable and immovable, hold Property
movable and
which may become vested in it by virtue of any purchase,
immovable.
grant, gift, testamentary disposition or otherwise, and all such
property shall be held by the Corporation for the purpose of
this Act, and subject to the rules of the Corporation, shall
have full power to sell, mortgage, lease, exchange or otherwise
dispose of the same.
7. (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 admission, withdrawal or expulsion of members
from their membership;
(b) the election of the office-bearers, their term of office
and their powers and duties;
(c) the procedure to be followed in the transaction of
business at meetings of the Corporation;
4 Fouz Trust (Incorporation)
Act, No. 32 of 2007
(d) the administration and management of the property
of the Corporation, the custody of its funds, and the
maintenance and audit of its accounts; and
(e) generally, for management of the affairs of the
Corporation and the accomplishment of its objects.
(2) Any rule made by the Corporation may be amended,
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 8. The Fund of the Corporation shall consist of —
Corporation.
(a) all sums of money lying to the credit of the trust on
the day immediately preceding the commencement
of this Act; and
(b) all sums of money that may accrue to the
Corporation after the commencement of this Act.
Accounts and 9. (1) The Corporation shall cause proper accounts to
Auditing. be kept of its income and expenditure, assets and liabilities
and all other transactions of the Corporation.
(2) The accounts of the Corporation shall be audited
annually by qualified auditors appointed by the Corporation.
Debts due by 10. All debts and liabilities of the Trust existing on the
and payable to day preceding the date of commencement of this Act, shall
the Trust.
be paid by the Corporation hereby constituted and all debts
due to, and subscriptions and contributions payable, to the
Trust on such date shall be paid to the Corporation for the
purposes of this Act.
The seal of the 11. The seal of the Corporation shall be kept in the
Corporation. custody of the President of the Corporation and shall not be
affixed to any instrument whatsover, except in the presence
of such number of persons as may be provided for in the rules
Fouz Trust (Incorporation) 5
Act, No. 32 of 2007
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 such person as a witness.
12. Where upon dissolution of the Corporation there Property
remains any property after the satisfaction of all its debts and remaining on
dissolution.
liabilities, such property shall not be distributed among the
members of the Corporation, but shall be given or transferred
to some other institution or institutions having objects similar
to those of the Corporation and which is or are by its rules
prohibited from distributing any income or property among
its or their members. Such institution or institutions shall be
determined by the members of the Corporation at or
immediately before the dissolution of the Corporation.
13. Nothing in this Act contained shall prejudice or affect Saving of the
the rights of the Republic or of any body politic or corporate Rights of the
Republic and
or of any other persons.
Others.
14. In the event of any inconsistency between the Sinhala Sinhala text to
and the Tamil texts of this Act, the Sinhala text shall prevail. prevail in case of
inconsistency.

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