New Young Men’s Christian Association, Moratuwa (Incorporation)

WHEREAS an association, called and known as “the New Young Men’s Christian Association, Moratuwa” has heretofore been established at Moratuwa for the purpose of achieving the objects and effectually carrying out and transacting all matters connected with the said association, according to the rules agreed to by its members :

AND WHEREAS the said association has applied to be incorporated, and it will be for the public advantage to grant the application:

BE it therefore enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows;

1. This Act may he cited as the New Young Men’s short title. Christian Association, Moratuwa (Incorporation) Act. No. 26 of 1992.

2. From and after the date of commencement of this Act, such and so many persons as now are members of the New Young Men’s Christian Association, Moratuwa (hereinafter referred to as 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 new Young Men’s Christian Association, Moratuwa” and by that name may sue and be sued with full power and authority to have and use a common seal and alter the same at its pleasure.

3. The general object for which the Corporation is constituted is declared to be to promote the spiritual, intellectual social and physical welfare of the young men of Moratuwa.

4. Subject to the provisions of this Act and any other written law, the Corporation shall have the power to do, perform and execute all such acts, matters and things whatsoever, as are necessary and desirable for the promotion or furtherance of the object of the Corporation, including the power to open, operate and close bank accounts, to borrow or raise money, with or without security, to receive or collect grants and donations, to invest its funds, and to engage, employ and dismiss officers and servants required for the purpose of carrying out of the object of the Corporation.

5.

6.

7. All debts and liabilities of the Association existing on the day preceding the date of commencement of this Act shall be paid and discharged by the Corporation, and all debts due to and subscriptions and contributions payable to, the Association on that day shall be paid to the Corporation for the purposes of this Act.

8. The Corporation shall subject to the other provisions of this Act, be able and capable in law to acquire 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 in force for the time being of the Corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.

9. The seal of the Corporation shall not be affixed to any instrument whatsoever, except in the presence of such number of members as may be provided for in the rules of the Corporation who shall sign and write 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.

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.

11. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.