ACT, No. 39 OF 2007

39of2007.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
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SARANA BUDDHIST (RELIEF) FOUNDATION
(INCORPORATION) ACT, NO. 39 OF 2007
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[Certified on 28th September, 2007]
Printed on the Order of Government
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Published as a Supplement to Part II of the Gazette of the Democratic
Socialist Republic of Sri Lanka of September 28, 2007
PRINTEDATTHE DEPARTMENTOFGOVERNMENTPRINTING,SRI LANKA
TOBEPURCHASEDATTHEGOVERNMENTPUBLICATIONSBUREAU,COLOMBO5
Price : Rs. 4.00 Postage : Rs. 5.00

Sarana Buddhist (Relief) Foundation 1
(Incorporation) Act, No. 39 of 2007
[Certified on 28th September 2007]
L. D.—O. Inc. 11/2004
AN ACT TO INCORPORATE THE SARANA BUDDHIST (RELIEF)
FOUNDATION
WHEREAS an Association called and know as “The Sarana Preamble.
Buddhist (Relief) Foundation” has heretofore been established
under the guidance of Ven. Nakulugamuwe Sumana Thero
for the purpose of propagating the practice of the teachings
of the Lord Buddha effectually and to carry out and transact
all matters connected with the said Association according to
the rules of the Association
AND WHEREAS the said foundation has heretofore
successfully carried out and transacted the several objects and
matters for which it was established 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 Sarana Buddhist (Relief) Short title.
Foundation (Incorporation) Act, No. 39 of 2007.
2. From and after the date of commencement of this Incorporation of
Sarana Buddhist
Act, such and so many persons as now are members of the
(Relief)
“Sarana Buddhist (Relief) Foundation” (hereinafter referred Foundation.
to as “the Foundation”) or shall hereafter be admitted as
members of the Corporation hereby constituted, shall be a
body corporate with perpetual succession under the name and
style of “Sarana Buddhist (Relief) Foundation” (hereinafter
referred to as “the Corporation”) and by that name may sue
and be sued with full power and authority to have and use a
common seal and alter the same at its pleasure.
2—PL 001532—3,300 (10/2006)
2 Sarana Buddhist (Relief) Foundation
(Incorporation) Act, No. 39 of 2007
General 3. The general objects for which the Corporation is
objects of the constituted are hereby declared to be —
Corporation.
(a) to promote the cultural, social, economic and
religious development for the public advantage;
(b) to undertake and carry out or sponsor studies and
research on Buddhism and to promote the teachings
of the Lord Buddha;
(c) to provide care for, assist and support the sick,
elderly, aged or needy bhikkus as well as general
public, where necessary;
(d) to provide assistance to under privileged children in
backward areas to further their education and
enhance their skills.
General 4. Subject to the provisions of this Act, and any other
powers of the written law, the Corporation shall have the power to perform
Corporation.
and execute, all such acts, matters and things whatsoever 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 from either local or foreign sources, to
invest its funds and to engage, employ and to take disciplinary
actions including dismissal of personal 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 rules of the Corporation be administered and managed by a
Corporation.
Board of Management consisting of the office-bearers and
such other persons as may be provided for in such rules and
elected in accordance therewith.
(2) The first Board of Management of the Corporation
shall be the Executive Committee of the Foundation holding
office on the day prior to the date of the coming into operation
of this Act and which shall hold office until a new Board of
Management is elected under the rules of the Corporation.
Sarana Buddhist (Relief) Foundation 3
(Incorporation) Act, No. 39 of 2007
6. (1) It shall be lawful for the Corporation, from time Rules of the
to time, at any general meeting of the members and by the Corporation.
votes 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 admission, withdrawal
or expulsion of members, for the election of the office-bearers
of the Board of Management for the conduct of the duties of
the office bearers of the Board of Management and the various
officers, agents and servants of the Corporation and generally
for the management of the 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.
(2) All members of the Corporation shall be subject to
the rules of the Corporation.
7. (1) The Board of Management shall cause proper Accounts and
audits.
books of accounts to be kept of the income and expenditure,
assets and liabilities and all other transactions of the
Corporation.
(2) The accounts of the Corporation shall be examined
and audited at least once in every year by one or more qualified
auditor or auditors.
(3) In this section, “qualified auditor” means—
(i) an individual who being a member of the Institute
of Chartered Accountant of Sri Lanka or of any other
institute established by laws, possesses a certificate
to practice 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 paractice as an Accountant issued by the Council
of such Institute.
4 Sarana Buddhist (Relief) Foundation
(Incorporation) Act, No. 39 of 2007
Debts due by and 8. All debts and liabilities of the Foundation existing on
payable to the
the day prior to the coming into operation of this Act shall be
Foundation.
paid by the Corporation and all debts due and subscriptions
and contributions payable to the Foundation on that date shall
be paid to the Corporation for purposes of this Act.
Corporation may 9. The Corporation shall be able and capable in law to
hold property take and hold any property movable or immovable which may
movable and
become vested in it by virtue of any purchase, grant, gift,
immovable.
testamentary disposition or otherwise and all such property
shall be held by the Corporation with full power to sell,
mortgage, lease, exchange or otherwise dispose of the same.
How the seal of 10. The seal of the Corporation shall not be affixed to
the Corporation is any instrument whatsoever except in the presence of such
to be affixed. number of persons as may be provided for in the rules of the
Corporation and 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.
Property 11. If upon the winding up or the dissolution of the
remaining on the Corporation there remains after the satisfaction of all its debts
dissolution of the and liabilities, any property whatsoever, such property shall
Corporation.
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 or their rules prohibited from
distributing any income or property among its or their
members.
Saving of the 12. Nothing in this Act contained shall prejudice or affect
rights of the the rights of the Republic or of any body politic or corporate.
Republic and
others.
Sinhala text to 13. In the event of any inconsistency between the Sinhlala
prevail in case of and Tamil texts of this Act, the Sinhala text shall prevail.
inconsistency.

Sarana Buddhist (Relief) Foundation 5
(Incorporation) Act, No. 39 of 2007
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.
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