Maitreya Buddha Dharmadutha Foundation

(a) to promote and foster the spiritual and cultural practices and teachings of Buddha in Sri Lanka in general ;

(b) to propagate Buddha Dhamma by holding worship services and to transmit the Maitreyan Tri-ratna by performing the relevant rituals ;

(c) to uplift and improve the socio-economic conditions of the people of Sri Lanka and help them attain a higher life by propagating Buddha Dharma ;

(d) to provide financial aid and award scholarships to children in indigant conditions and grant financial aid and assistance in any other form, for the advancement, of education and knowledge, including the establishment of libraries and cultural centres ;

(e) to collaborate or amalgamate with any other institution or organization, whether foreign or local, having objects similar to those of the Corporation ;

(f) to conduct and sponsor conferences, lectures, seminars, workshops and group studies within or outside Sri Lanka for the purpose of achieving the objects of the Corporation ;

(g) to print, publish and distribute books, journals, bills, news papers and magazines which the Corporation may consider desirable for the promotion and advancement of its objects ;

(h) to establish vocational training centres and conduct training programmes with a view to providing employment for youth ; and

(i) to generally do all such acts and things as are necessary for, or incidental or conducive to the carrying out or the attainment of the objects of the Corporation.

(1) The affairs of the Corporation shall, subject to the rules of the Corporation be administered by a Board of Management elected in accordance with the rules of the Corporation.

(2) The first Board of Management shall consist of the Board of Directors of the Foundation holding office on the day immediately preceding the date of commencement of this Act and whose names are set out in the Schedule to this Act.

(1) It shall be lawful for the Corporation, from time to time at any general meeting of the members and by a majority of not less than two-thirds of the members present and entitled to vote to make rules not inconsistent with the provisions of this Actor any other written law for the admission, expulsion re withdrawal of members, for the election of members of the Board of Management, for the conduct of the duties of the Board of Management and of the various officers, agents and servants of the management of the affairs of the Corporation and attainment of its objects. Such rules when made may at a like meeting and in like manner, be altered, added to, amended or rescinded.

(2) Every member of the Corporation shall be subject to the rules in force for the time being of the Corporation.

(3) No rules of the Corporation which may hereafter be passed, shall be altered, added to, amended or rescinded except by the votes of two-thirds of the members present and voting at a general meeting of the Corporation:

Provided however, that no such alteration, addition, amendment or rescision shall have effect unless approved by the Board of Management.

(4) The rules of the Foundation in force on the day preceding the date of commencement of this Act shall be deemed to be the rules of the Corporation made under this section in so far as they are not inconsistent with the provisions of this Act or any other written law.

(1) The Board of Management of the Corporation shall cause proper books of account to be kept of the, income and expenditure of the Corporation.

(2) All moneys received by way of donations, testamentary dispositions, transfers, contributions or fees shall be deposited in the name of the Corporation in one or more banks as the Board of Management shall determine.

(3) The Corporation may create any depreciation funds reserve or sinking fund for the rehabilitation, improvement and the development of the property of the Corporation.

(1) The Corporation shall be organized and operated as a non profit organization and no part of the gains, profits or dividends if any of the Corporation shall be distributed among the members of the Corporation.

(2) In the case of dissolution of the Corporation all the assets remaining after payment of all debts and liabilities thereof shall be transferred to an organization established or organized exclusively for charitable, religious or cultural purposes.

(1) The Corporation shall have its own fund and all monies heretofore or hereafter received by way of gift, bequest, donation, subscription, fees or grants for and on account of the Corporation shall he deposited to the credit of the Corporation in one or more banks as the Board of Management shall determine.

(2) There shall be paid out of the funds any expenditure incurred by the Corporation in the exercise, performance and discharge of its powers, duties and functions under this Act.