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Short title.
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1. This Act may be cited as the Institute of Supply and Materials’ Management, Sri Lanka, Act No. 3 of 1981.
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Incorporation of the Institute of Supply and materials Management.
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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 Supply and Materials Management (herein- after referred to as ” the Institute “) or shall hereafter be admitted corporate members of the Corporation hereby constituted, (so long as they continue to be corporate members) shall be and become a Corporation with perpetual succession under the style and name of “The Institute of Supply and Materials Management, Sri Lanka ” (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 will and 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) to promote and develop the principles, techniques and practice of supply and materials management;
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(b) to hold meetings regularly for reading papers and discussing matters connected with supply and materials managements.
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(c) to undertake research into the working of the supply function, to improve techniques and to examine and report on any development which may affect activities in the field of supply and materials management ;
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(d) to sponsor, organize, and conduct conferences, seminars, public lectures, group studies within or without Sri Lanka with a view to enlarging the knowledge of those engaged in supply and materials management;
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(e) to conduct courses and examinations qualifying for membership of the Corporation, to test the competence of persons engaged in supply and materials management and to grant certificates of competence;
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(f) to assess the eligibility of candidates for admission to the various grades of membership :
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(g) to establish, maintain or assist or carry on colleges, institutes, academies, libraries or research centres for studies relating to supply and materials management for the benefit of the members of the Corporation and the general public or any section thereof. within or without Sri Lanka ;
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(h) to provide opportunities for members of the Corporation to undertake studies on subjects of particular interest to the Corporation and where feasible, arrange for the publication of such studies;
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(i) to promote and foster a high code of professional conduct amongst all persons engaged in supply and materials management,
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(j) to secure wide recognition of the importance of efficient purchasing supply and mater also management in modern industry and to improve the professional status of the same and to bring into association and friendly relationship those engaged in purchasing and supply for public undertakings or industrial firms or companies .
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(k) to foster public interest in, and to increase public awareness of, the importance of supply and materials management in Sri Lanka
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(l) to establish, foster and maintain relations with association with similar or allied interests both in Sri Lanka and abroad . and
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(m) to do ail such other acts and things as are incidental or conducive to the attainment of the above objects or any of them,
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General power of the Corporation.
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4. 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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5.
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(1) The affairs of the Corporation shall, subject to the by-laws in force for the time being of the Corporation, be administered by a Council consisting of the President, three Vice-Presidents, Secretary, Treasurer and such other persons as may be provided for in such by-laws and elected in accordance therewith
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(2) The first Council of the Corporation shall be the Council of the Institute holding office at the time of the coining into operation of this Act.
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By-laws of the Corporation
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6.
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(1) It shall be a lawful for the Corporation, from time to time, at any general meeting and by the requisite majority of the members voting, to make by-laws, not inconsistent with the provisions of this Act, for the management of the affairs of the Corporation and the accomplishment of its objects. Such by-laws when made may, at a like meeting and in like manner, be altered, added to, amended or rescinded.
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(2) The by-laws of the Institute in force at the time of the coming Into operation of this Act shall be deemed to be the by-laws of the Corporation made under this section and may be altered, added to, amended, rescinded or replaced by by-laws made under this Act
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(3) The members of the Corporation shall be subject to the by-laws of the Corporation.
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Corporation may hold property movable and immovable.
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7. 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 by-laws 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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Power to charge fees and subscriptions.
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8. The Corporation shall be able and capable in law to charge
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(a) such fees, as the Corporation may deem reasonable, for admission to any examination or study course conducted by the Corporation :
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(b) fees for the election of persons to any class of member- ship of the Corporation ; and
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(c) such subscription and fee from members of the Corporation as the Corporation may deem reasonable in respect of the services provided by the Corporation.
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Disciplinary Committees.
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9. The Corporation shall have the power to appoint Disciplinary Committees and to take such other steps as may be found necessary from time to time for the management of discipline among persons practicing or acting as purchasing. supply or materials managers in Sri Lanka.
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Debts due by and payable to the Institute.
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10. 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, contributions and fees payable to the Institute shall be paid to the Corporation for the purposes of this Act.
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How the 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 on the authority of the Council and in the presence of two members of the Council or such other persons as the Council may appoint for the purpose, who shall sign their names of 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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Saying 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 of Sri Lanka or of any body politic or corporate, or of any other persons, except such as are mentioned in this Act and others claiming by, from or under them.
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