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| Hizbul-islam Trust (Incorporation) |
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An ACT TO INCORPORATE THE HIZBUL-ISLAM TRUST
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WHEREAS a Trust called and known as Hizbul-Islam Trust” has heretofore been established at Colombo for the purpose of effectually carrying out and transacting all matters connected with the said Trust, according to the rules agreed to by its trustees :
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AND WHEREAS the said Trust 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 :
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BE it therefore enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows : ”
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[26th February
, 1992 ]
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Short title.
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1. This Act may be cited as the Hizbul-Islam Trust (Incorporation) Act, No, 7 of 1992.
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Incorporation of Hizbul-Islam Trust.
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2. From and after the date of commencement of this Act. such and so many persons as now are members of the Hizbul-Islam Trust (hereinafter referred to as ” the Trust “) or 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 ” Hizbul-Islam Trust” and by that name may sue and be sued in all courts, with full power and authority to have and to 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 of the Corporation shall be”
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(a) to promote and facilitate the study of Islam ;
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(b) to do work for the elimination of social and other inequalities among the people of Sri Lanka ;
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(c) to promote the advancement of the educational. cultural, social and economic welfare of the people of Sri Lanka ;
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(d) to set up vocational training centres for training youths ;
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(e) to provide necessary management expertise and guidance to youths who are self-employed ;
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(f) to provide educational material in the Sinhala Language for Muslim students studying in the Medium ; and
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(g) to do all such other things as are necessary for. or conducive or incidental to, the attainment of the above objects.
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Scope of activities of the Corporation.
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4. The Corporation shall endeavour to work within the framework of the Holy Quran and the Sunnah of the Holy Prophet of Islam.
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Management of the affairs of the Corporation.
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5.
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(1) The affairs of the Corporation shall, subject to the rules of the Corporation, be administered by a Board of Directors (hereinafter referred to as “the Board”).
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(2) The first Board of Directors of the Corporation shall be the Trustees of the Hizbul-Islam Trust holding office on the day preceding the date of commencement of this Act. and consisting of members whose names are specified in the Schedule of this Act.
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(3) It shall be lawful for the Board by a majority of votes at its meeting to co-opt any prominent Islamic worker to the Board, and subject to the rules of the Corporation fill any vacancy that may arise by death, resignation or removal of any member of the Board,
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Powers of the Corporation.
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6. The Corporation shall subject to the provisions of this Act or other written law have the following powers ;”
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(a) to receive grants, gifts or donations, in cash or kind from local or foreign sources ;
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(b) to give grants, endowments or scholarships for the purposes of the Corporation ;
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(c) to appoint all such officers and servants as it may deem necessary and, remunerate, dismiss and exercise disciplinary control over such officers or servants;
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(d) to open, operate and close bank accounts and to borrow or raise money for the purpose of the Corporation with or without security ;
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(e) to invest such of the moneys of the Corporation as are not immediately required for the purpose of the Corporation in any such investments as are authorized by law for the investment of trust funds and accepted in Islam and to recall, reinvest and vary such investments at the discretion of the Board;
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(f) to take all steps as may be necessary or desirable for the attainment of all or any of the objects of the Corporation.
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Rules of the Corporation.
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7.
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(1) It shall be lawful for the Board, from time to time, at any general meeting of the members and by a vote of atleast two-thirds of the members present and voting thereat, to make rules not inconsistent with the provisions of this Act or any other written law in respect of all or any of the following matters : ”
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(a) the election, appointment and removal of the members of the Board ;
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(b) the duties of the Board and of the various officers and agents of the Corporation ;
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(c) the procedures to be followed in the administration of the funds of the Corporation ; and
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(d) generally for the .management of the Corporation and for the accomplishment of its objects.
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(2) No rules of the Corporation for the time being in force nor any rule which may hereafter be made shall be altered, added to, amended or rescinded except in like manner as a rule is made under subsection (.1).
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(3) The rules of the Trust in force on the day prior to the date of commencement of this Act shall in so far as they are not inconsistent with the provisions of this Act or other written law, be deemed to be the rules of the Corporation made under this section.
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(4) The members of the Corporation shall be subject to the rules of the Corporation.
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Debts due by and payable to the Trust.
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8. All debts and liabilities of the Trust existing on the day preceding the date of commencement of this Act shall be paid by the Corporation hereby constituted, and debts due to, and subscriptions and contributions payable to the Trust on that day, shall be paid to the Corporation for the purposes of this Act.
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Corporation hold any property, movable or immovable.
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9. 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 purpose of this Act and subject to the rules for the time being in force OF the said Corporation, with full power to sell, lease, exchange or otherwise dispose of, the same.
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How the seal of the Corporation to be affixed.
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10. The seal of the Corporation shall not be affixed to any instrument whatsoever except in the presence of two members of the Board 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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Saving of the rights of the Republic and others.
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11. Nothing in this Act contained shall prejudice or affect the rights of the Republic or of any body politic or the rights of the Republic or of any body politic or corporate or of any other person, except such as are mentioned in this act and those claming by, from, or under, them.
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Sinhala text to prevail in case of inconsistency.
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12. In the event of any inconsistency between the Sinhala and tamil texts of this Act, the Sinhala text shall prevail.
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| Schedules |
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