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Short title.
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1. This Act may be cited as the Kuliyapitiya Young Men’s Buddhist Association (Incorporation) Act.
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Incorporation of the Kuliyapitiya Young Men’s Buddhist Association.
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2. From and after the date of the commencement of this Act, the President, Vice-Presidents and members of the Committee of Management for the time being of the Kuliyapitiya Young Men’s Buddhist Association (hereinafter referred to as ” the Association”) and such and so many persons as now are members of 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 Kuliyapitiya Young Men’s Buddhist Association ” 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 to change 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, practice and propagation of Buddhism;
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(b) the encouragement and promotion of unity, co-operation and brotherhood among Buddhists;
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(c) promoting the physical, mental and social well-being of the members of the Association; and
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(d) social service in general.
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General powers 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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Committee of Management.
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5.
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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 the office-bearers and such number of other persons elected in accordance with the rules in force for the time being of the Corporation.
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(2) The first Committee of Management of the Corporation shall consist of the Office-bearers and the other members of the Committee of Management of the Association holding office on the date of commencement of this Act.
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Rules of the Corporation.
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6.
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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 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 two-thirds of the members present and voting at a general meeting of the Corporation.
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(3) The rules of the Association in force on the date of the commencement 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 Association.
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7. All debts and liabilities of the Association 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 Association, 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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8. 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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Seal of the Corporation.
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9. The seal of the Corporation shall not be affixed to any instrument whatsoever except in the presence of the President and either one of the Joint Secretaries or the Treasurer, 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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10. 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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