Institute of Corporation Lawyers.

Institute of Corporation Lawyers.


BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows:
Short title.
1.This Act may be cited as the Institute of Corporation Lawyers (Amendment) Act,No.3 of 1980.
Amendment of section 5 of Law No,33 of 1978.
2.Section 5 of the Institute of Corporation Lawyers Law,No.33 of 1978.(hereinafter referred to as the “Principal enactment “) is hereby amended by the repeal of subsection (1) of that section and the substitution therefor, of the following new subsection:

(1) The affairs of the Institute shall be administered by a Board of Management, (hereinafter referred to as the Board) which shall consist of the following members, who shall be appointed by the Cabinet of Minister:

(a) the chairman, who shall be an act attorney -at-law of not less then ten years’ standing.”.
(b)four other member who shall be attorney-at-law of not less then seven years’ standing.”.
Amendment of section 5 of Law No 23 of 1978.
Section 6 of the principal enactment is hereby repealed and the following new section substituted therefor : –

Who shall preside at meetings of the Board.

(1) The Chairman of the Board shall, if present, preside at all meetings of the Board, In, the absence of the Chairman from any such meeting, the members present shall elect one of the members to preside at such meeting.
(2) Any question for decision at any meeting of toe Board, shall be decided by the vote of the majority of the members present in the case of an equality of votes the member presiding shall have a second or casting vote.”.