Buddhist Publication Society Law

Buddhist Publication Society Law A LAW TO INCORPOATE THE BUDDHIST PUBLICATION SOCIETY. Preamble. WHEREAS an Association, called and known as The Buddhist Publication Society “, has hereto-fore been established at Kandy for the purpose of effectually carrying out and transacting all 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 established, and has Applied to be incorporated, and it will be for the public advantage to grant the application: Be it therefore enacted by the National State Assembly of the Republic of Sri Lanka as follows: Short title. 1. This Law may be cited as the Buddhist Publication Society Law, No. 29 of 1975. Incorporation of the Buddhist Publication Society. 2. From and after the date of commencement of this Law, the President and the members of the Board of Management for the time being of the Buddhist Publication Society (hereinafter referred to as ” the Society ) and such and so many persons as now are members of the Society or shall hereafter be admitted members of the corporation hereby constituted, shall be and become a corporation with perpetual succession under the style and name of ” The Buddhist Publication Society (hereinafter referred to as the corporation ) and by that name may sue and 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. General objects of the corporation. 3. The general objects for which the corporation is constituted are hereby declared to be,- (a) the publication of Buddhist literature, (b) the promotion of the observance of the Buddha Dhamma, (c) making known the Buddha Dhamma in the different countries and (d) the support of Buddhist welfare work and relief of distress. Board of Management, 4. (1) The affairs of the corporation shall, subject to the rules in force for the time being of the corporation as hereinafter provided, be administered by a Board of Management consisting of the President, the Honorary Secretary, two Honorary Joint Secretaries and the Honorary Treasurer of ; the corporation and not more than four other members to be elected in accordance with the rules for the time being of the corporation. (2) All members of the corporation shall be subject to the rules in force for the time being of the corporation. (3) The first Board of Management of the Corporation shall consist of the Venerable Nyanaponika Maha Thera, the Founder President, Mr. Richard Abeyasekera, Founder Honorary Secretary, Messrs. P. B. Mudannayake and T. B. Naranpanawa, Honorary Joint Secretaries and Mr. A. S. Karunaratne the Founder Honorary Treasurer, Mr. E. Eramudugolla and Mr. Brindley Ratwatte. Power to make rules. 5. It shall be lawful for the corporation from time to time at any general meeting of the members, and by a majority of votes to make rules for the admission, withdrawal or expulsion of members, | for the conduct of the duties of the Board of Management 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 the affairs of the corporation and the accomplishment of its objects. Such rules when made may, at a like meeting, be altered, added 1 to, amended, or revoked, subject however, to the requirements of section 7. Rules in the Schedule to be the rules of the corporation. 6. Subject to the provisions in the preceding section contained, the rules set out in the Schedule hereto shall for all purposes be the rules of the -corporation: Provided, however, that nothing in this section contained shall be deemed to prevent the corporation at all times hereafter from making fresh rules or from altering, amending, adding to, or revoking any of the rules set out in the Schedule or any of the rules that may hereafter be made by the corporation. Amendment, &c.,of rules. 7. No rule in the Schedule hereto, nor any rule hereafter made by the corporation, shall be altered, added to, amended or revoked, except by a vote of two-thirds of the members present at a general meeting of the corporation, and unless such amendment shall have been previously approved by the Board of Management. Debts due by and payable to the Society. 8. All debts and liabilities of the Society existing at the time of the coming into operation of this Law shall be paid by the corporation, and all debts due to and subscriptions payable to the Society shall be paid to the corporation for the purposes of this Law. Seal of the corporation. 9. The seal of the corporation shall not be affixed to any instrument whatsoever except in the presence of at least two of the members of the Board of Management, duly authorized, 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. Powers of the corporation to hold property. 10. The corporation shall be able and capable in law to take and hold any property, movable or immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition, or otherwise, and all such property shall be held by the corporation for the purposes of this Law and subject to the rules for the time being of the said corporation, with full power to sell, mortgage, lease, exchange, or otherwise dispose of the same. Saving of the rights of the Republic and others. 11. Nothing in this Law contained shall prejudice or affect the rights of the Republic, or of any body politic or corporate, or of any other persons, except such as are mentioned in this Law and those claiming by, from! or under them.