Act no 16 OF 2012

Act-no-16of2012-Organization-For-The-Erection-Of-Balana-Buddha-Statue-Incorporation.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
ORGANIZATION FOR THE ERECTION OF
BALANA BUDDHA STATUE
(INCORPORATION) ACT, No. 16 OF 2012
[Certified on 06th August, 2012]
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, 2012
PRINTEDATTHE DEPARTMENTOFGOVERNMENTPRINTING,SRILANKA
TO BEPURCHASED AT THE GOVERNMENT PUBLICATIONS BUREAU, COLOMBO 5
Price : Rs. 6.00 Postage : Rs. 10.00

Organization for the Erection of Balana 1
Buddha Statue (Incorporation)
Act, No. 16 of 2012
[Certified on 06th August, 2012]
L.D.—O. Inc. 33/2010.
ANACT TO INCORPORATE THE ORGANIZATION FOR THE ERECTION OF
BALANA BUDDHA STATUE
WHEREAS an organization called and known as the Preamble.
"Organization for the Erection of Balana Buddha Statue"
has heretofor been established for the purpose of effectually
carryingout and transacting the relevant matters connected
with the said Organization according to the rules agreed to
by its members :
AND WHERAS the said Organization has heretofore
successfully carried out and transacted the several objects
and matters for which the said Organization was established,
and has applied to be incorporated, and it will be expedient
to grant such application:
BE it enacted by the Parliament of the Democratic Socialist
Republic of Sri Lanka as follows:—
1. This Act, may be cited as the Organization for the Short title.
Erection of Balana Buddha Statue (Incorporation) Act,
No. 16 of 2012.
2. From and after the date of commencement of this Incorporation
Act, such and so many persons as now are members of the of the
Organization
Organization for the Erection of Balana Buddha Statue for the Erection
(hereinafter referred to as the "Organization") or shall hereafter of Balana
be admitted as members of the Corporation hereby Buddha Statue.
constituted shall be a body corporate with perpetual
succession, under the name and style of the Organization for
the Erection of Balana Buddha Statue (hereinafter referred
to as the "Corporation") and by that name may sue and be
sued and shall have full power and authority to have and to
use a common seal and to alter the same at its pleasure.
2—PL 005143—3,090 (08/2010)
2 Organization for the Erection of Balana
Buddha Statue (Incorporation)
Act, No. 16 of 2012
General objects 3. The general objects for which the Corporation is
of the constituted are hereby declared to be:—
Corporation.
(a) to cause to be carved a Buddha Statue on Belungala,
Balana, Kadugannawa and to adopt necessary
measures for the maintenance of the same ;
(b) to take steps to inculcate the principles of
Theravada Buddhism among Buddhists all over
the world including persons belonging to the
Buddhist faith in Sri Lanka;
(c) to take necessary steps to protect the Buddhist
heritage in Sri Lanka ;
(d) to make arrangements to promote Buddhist
education among adherents of the Buddhist faith;
(e) to assist the artists belonging to the Buddhist faith
and engaged in the art of colossal stone carving, in
order to enhance their standard of living; and
(f) to promote awareness of Buddhist principals among
adherents of the Buddhist faith;
Management of 4. (1) The affairs of the Corporation shall, subject to
the affairs of the the provisions of this Act and the rules of the Corporation
Corporation.
made under section 6, be administered by a Committee of
Management consisting of nine members including the
President, two Vice Presidents, a General Secretary, Assistant
Secretary and a Treasurer who shall be elected in accordance
with the rules of the Corporation.
(2) The first Management Committee of the Corporation
shall consist of the members of the Organization for the
Creation of Balana Buddha Statue holding office on the day
immediately preceding the date of commencement of this
Act who shall hold office until a new Management
Committee is elected under the rules of the Corporation.
Organization for the Erection of Balana 3
Buddha Statue (Incorporation)
Act, No. 16 of 2012
(3) The founder member of the Organaization, Ven,
Kamburugamuwa Vajira thero shall be the first President of
the Committee of Management of the incorporation.
5. (1) Subject to the provisions of this Act and any General Powers
of the
other written law, the Corporation shall have the power to–
Corporation.
(a) borrow or raise money with or without security for
the purpose of the Corporation:
Provided that, notwithstanding anything to
the contrary in any other provisions of this Act, the
Committee of Management shall obtain prior
approval of the Department of External Resources
of the Ministry of the Minister to whom the subject
of Finance is assigned in respect of all foreign
grants, gifts or donations.
(b) utilize and invest the funds belonging to the
Corporation in order to achieve the objects of the
Corporation, in a manner determine by the
Committee of Management;
(c) open, maintain and close bank accounts in any
bank or banks as may be determined by the
Committee of Management;
(d) appoint, employ, disciplinary control, dismiss and
remunerate officers and servants required for the
carrying out of the objects of the Corporation;
(e) to liaise and co-ordinate with other local or foreign
institutions which have similar objects; and
(f) to do all other acts and things as are incidental or
conducive to the attainment and furtherance of the
objects of the Corporation.
4 Organization for the Erection of Balana
Buddha Statue (Incorporation)
Act, No. 16 of 2012
(2) In exercising the powers of the Corporation set out
above, the Corporation shall obtain the prior written
approval of the Secretary to the Ministry of the Minister to
whom the subject of Buddhasasana and Religious Affairs
has been assigned.
Rules of the 6. (1) It shall be lawful for the Corporation, from time
Corporation. to time, at any General Meeting or at a Special General
Meeting, by a majority of not less than one third 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 election of the office bearers, their term of office,
resignation from, or vacation of, or removal from
office and their powers, duties and functions;
(b) the election and the terms of office of members of
the Committee of Management other than the office
bearers, and the powers, duties and functions of the
members of the Committee;
(c) classification of membership and membership fees,
admission, withdrawal and expulsion of members
and membership fees;
(d) the administration and management of the property
of the Corporation, the custody of its funds and the
maintenance and audit of its accounts;
(e) the procedure to be followed at any meeting of the
Committee of Management and the quorum
therefore and the conduct of business thereat; and
(f) the mangement 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 in like
manner, as a rule made under subsection (1).
Organization for the Erection of Balana 5
Buddha Statue (Incorporation)
Act, No. 16 of 2012
(3) The members of the Corporation shall be subject to
the rules of the Corporation.
7. Subject to the provisions of this Act, the Corporation Corporation
shall be able and capable in law to acquire and hold may hold
movable and
any property both movable and immovable by way of immovable
purchase, grant, gift, testamentary disposition or property.
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 made under section 6 with full power
to sell, mortgage, lease, exchange or otherwise dispose of
the same.
8. (1) The Corporation shall have its own Fund and all The Fund of the
monies heretofore or hereafter to be received by way of gift, Corporation.
bequest, donation, subscription, contribution or grants on
behalf of the Corporation shall be deposited to the credit of
the Fund of the Corporation in one or more banks as the
Committee of Management may determine.
(2) There shall be paid out of the Fund all such sums of
money as may be required to defray any expenditure incurred
by the Corporation in the exercise, performance and discharge
of its powers, duties and functions under this Act.
9. All debts and liabilities of the Organization existing Debts due by
on the day preceding the date of commencement of this Act and payable to
the
shall be paid and discharge by the Corporation hereby
Organization.
constituted and all debts due, subscriptions and contributions
payable to the Organization on that day shall be paid to the
Corporation for the purposes of this Act.
10. No member of the Corporation shall for the purpose Limitation of
of discharging the debts and liabilities of the Corporation or liability of
members.
for any other purpose be liable to make any contribution
exceeding the amount due from such member as membership
fees.
6 Organization for the Erection of Balana
Buddha Statue (Incorporation)
Act, No. 16 of 2012
Audit and 11. (1) The Corporation shall cause proper accounts t o
Accounts. be kept of all income and expenditure, assets and liabilities
and all other transactions of the Corporation.
(2) The Accounts of the Corporation shall be audited by
a qualified auditor appointed by the Committee of
Management.
(3) For the purposes of this section, "qualified auditor"
means–
(i) an individual who, being a member of the
Institute of Chartered Accountants of Sri Lanka,
or of any other Institute estabished by law,
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 practice as an Accountant issued
by the Council of such Institute.
Seal of the 12. The seal of the Corporation shall not be affixed to
Corporation. any instrument except in the presence of the president and
two members of the Corporation as may be determined by
the Committee of Management, 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 13. If upon the dissolution of the Corporation, there
remaining on remains any property after the satisfaction of all debts and
dissolution. liabilities, such property shall not be distributed among the
members of the Corporation, but shall be given or transmitted
to some other institution or institutions having objects
similar to those of the Corporation, and which is or are by its
rule prohibited from distributing any income or property
Organization for the Erection of Balana 7
Buddha Statue (Incorporation)
Act, No. 16 of 2012
among its of their members. Such institution or institutions
may be determined by the Committee of Management on or
before the dissolution of the Corporation.
14. Nothing contained in this Act shall prejudice or Saving of the
affect the rights of the Republic or any body politic or rights of the
Republic.
corporation.
15. In the event of any inconsistency between the Sinhala text to
Sinhala and Tamil texts of this Act, the Sinhala text shall prevail in case
of inconsistency.
prevail.

8 Organization for the Erection of Balana
Buddha Statue (Incorporation)
Act, No. 16 of 2012
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
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