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Short title.
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1. This Act may be cited as the Institute of Sinhala Culture (Incorporation) Act.
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Incorporation of the institute of Sinhala Culture.
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2. From and after the date of commencement of this Act, such and so many persons as now are corporate members of the Institute of Sinhala Culture (hereinafter referred to as ” the Institute “) or shall hereafter be admitted corporate members of the Corporation hereby constituted, (as long as they continue to be corporate members) shall be and become a body corporate with perpetual succession under the style and name of” The Institute of Sinhala Culture ” (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 to use a common seal and to alter the same at its pleasure.
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Membership of the Corporation.
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3.
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(a) The terms and conditions of membership of the Corporation and the voting rights and other privileges of the members shall be in accordance with the rules in force for the time being of the Corporation.
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(b) Non-corporate members, namely-
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General objects of the Corporation.
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4. The general objects for which the Corporation is constituted are hereby declared to be-
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(a) the preservation and development of Sinhala Culture;
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(b) the promotion and instilment of an interest and appreciation of Sinhala Culture among youth; and
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(c) the maintenance and management of a Trust for the furtherance of the activities of the Corporation.
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General powers of the Corporation,
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5. The Corporation shall have the power to do, perform and execute all such acts, matters, and “things whatsoever, as are necessary or desirable for the promotion or furtherance of the objects of the Corporation or any one of them including the power to open, operate and close bank accounts, to borrow or raise moneys with or without security, to receive or collect grants and donations, to invest its funds, and to engage, employ and dismiss personnel required for the carrying out of the objects of the Corporation.
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Management of the affairs of the corporation
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6.
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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 Committee of Management consisting of such number of office-bearers as are elected in accordance with the rules for the time being of the Corporation.
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(2) The first Committee of Management of the Corporation shall be the Committee of Management of the Institute holding office at the time of the coming into operation of this Act.
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Board of Trustees.
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7.
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(1) There shall be a Board of Trustees consisting of such persons as may be elected in accordance with the rules in force for the time being of the Corporation. The Board of Trustees shall be responsible for the administration, management and control of the Trust heretofore established by the Institute. The Board of Trustees shall exercise, perform and discharge its powers, duties and functions in accordance with the rules in force for the time being of the Corporation.
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(2) The first Board of Trustees of the Corporation shall be the Board of Trustees of the Institute holding office at the time of the coming into operation of this Act.
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Rules of the Corporation.
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8.
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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 the admission, withdrawal or expulsion of members, for the conduct of the duties of the Committee of Management, the Board of Trustees and of the various officers, agents and servants of the Corporation, for the procedure to be followed 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 cancelled, 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 cancelled, except by a vote of at least two-thirds of the voting membership voting at a general meeting.
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(3) The rules of the Institute in force at the time of the coming into operation of this Act shall 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 Institute.
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9. All debts and liabilities of the Institute existing at the time of the coming into operation of this Act shall be paid by the Corporation hereby constituted, and all debts due to and subscriptions and contributions payable to the Institute, shall be paid to the Corporation for the purposes of this Act.
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Corporation may hold property, movable and immovable.
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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 Act 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.
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How seal of the Corporation is to be affixed .
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11. The seal of the Corporation shall not be affixed to any instrument whatsoever except in me presence of two members of 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.
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Saving of the rights of the Republic, and others.
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12. Nothing in this Act 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 Act, and those claiming by, from, or under them.
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