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Short title.
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1. This Law may be cited as Dharmachakra Vidyapitha Sabha Law.
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Incorporation of the Dharmachakra Vidyapilha Sabha.
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2. From and after the date of commencement of this Law, such and so many persons as now are members of the Dharmachakra Vidyapitha Sabha (hereinafter referred to as “the Association”), 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 ” Dharmachakra Vidyapitha Sabha “, and by that name shall and may sue and be sued in all courts, with full power and authority to have and use a common seal and alter the same at its pleasure.
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General objects of the Corporation.
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3. The general objects for which the Corporation is constituted are hereby declared to be-
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(a) the study and research into Buddhism in its totality of theory, practice and insight (pariyatti, patipatti and pativedha);
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(b) the development, encouragement and extension of the study and practice of Buddhism;
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(c) the advancement and propagation of knowledge and practice of Buddhism to all parts of the world ;
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(d) the carrying out, development or extension of any existing or future scheme of Buddhist activity or any activity to help the development or extension of Buddhism in any part of the world;
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(e) the promotion of unity and co-operation among Buddhists;
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(f) the advancement and development of the physical and intellectual development and culture of the Buddhists;
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(g) the establishment, development and maintenance of institutions under the Corporation or jointly with any other body or independently of the Corporation, for the achievement of the aims and objects of the Corporation;
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(h) the taking of all other steps that are necessary and desirable for the promotion of the above-mentioned aims and objects.
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Councils of Management.
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4.
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(1) The affairs of the Corporation shall, subject to the rules in force for the time being of the Corporation, be administered by a Council of Management consisting of such number of persons to be elected in accordance with the rules in force for the time being of the Corporation.
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(2) The first Council of Management of the Corporation shall be the members of the Council of Management of the Association holding office on the date of commencement of this Law.
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Rules of the Corporation.
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5.
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(1) 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 admission, withdrawal or expulsion of members; for the conduct of the duties of the Council 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 to, amended or rescinded, subject however to the requirements of subsection (2).
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(2) No rule of the Corporation for the time being in force, nor any rule which may hereafter be passed shall be altered, added to, amended or rescinded except by a vote of two-thirds of the members present and voting at a general meeting of the Corporation:
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Provided, however, that such alteration, addition, amendment or rescission shall have been approved by the Council of Management.
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(3) The rules of the Association in force on the date of commencement of this Law, shall be deemed to be the rules of the Corporation made under this section.
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(4) All members of the Corporation shall be subject to the rules in force for the time being of the Corporation.
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Debts due by, and payable to, the Association.
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6. All debts and liabilities of the Association existing at the time of the coming into operation of this Law shall be paid by the Corporation hereby constituted and all debts due to and subscriptions and contributions payable to the Association shall be paid to the Corporation for the purposes of this Law.
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How seal of the Corporation is to be affixed.
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7. The seal of the Corporation shall not be affixed to any instrument whatsoever except in the presence of two of the members of the Council 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.
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Corporation may hold movable and immovable.
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8. The Corporation shall be 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 in force for the time being of the Corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.
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Borrowing powers.
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9. It shall be lawful for the Corporation to raise funds for the accomplishment of its objects and for such purpose to create, execute, grant or issue any mortgages, bonds or obligations:
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Provided that the aggregate of the amounts which may be so raised by the Corporation shall not exceed the sum determined by the Council of Management.
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Reimbursement.
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10. The Corporation shall reimburse any member, officer, agent or servant of the Corporation to the extent of payments bona fide made by such member, officer, agent or servant of the Corporation, on behalf of the Corporation and for its benefit.
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Saving of rights of the Republic and others.
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11. Nothing in this Law contained shall prejudice or affect the rights of the Republic, of any body politic or corporate, or of any other person, except such as are mentioned in this Law, and those claiming by, from, or under them.
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