Pannipitiya Young Men’s Buddhist Association (Incorporation)

Pannipitiya Young Men’s Buddhist Association (Incorporation)

AN ACT TO INCORPORATE THE PANNPITTYA YOUNG MEN’S BUDDHIST ASSOCIATION

Preamble

WHEREAS an association called and known as “The Pannipitiya Young Men’s Buddhist Association ” has heretofore been established, at Pannipitiya for the purpose of 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 heretofore successfully carried out and transacted the several objects and matters for which it was established, and 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:-”

[11^th March
, 1992 ]

Short title.

1. This Act may be cited as the Young Men’s Buddhist Short title. Association, Pannipitiya (Incorporation) Act, No. 12 of 1992.

Incorporation of the Pannipitiya, Young Men’s Buddhist Association.

2. From and after the date of commencement of this Act, such and so many persons as now are members of the Pannipitiya Young Men’s Buddhist Association (herein after 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 style and name of ” Pannipitiya Young Men’s Buddhist Association”, and by that name may sue and be sued in all courts, with full power and authority to have and use a common seal.

General objects of the Corporation.

3. The general objects for which the Corporation is hereby constituted are hereby declared to be”

(a) to encourage people to live according to the teachings of the Lord Buddha, and to observe Buddhist precepts and to promote the study and propagation of Buddhism;

(b) to foster unity and co-operation among the members of the Corporation and to advance the physical, intellectual, social and cultural welfare of such members; and

General powers of the Corporation.

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 or desirable for the promotion and 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 money, with or without security, to receive or collect grants and donations and to engage, employ and dismiss officers and servants required for the carrying out of the objects of the Corporation.

Management of the affairs of the Corporation.

(1) The affairs of the Corporation shall, subject to the rules of the Corporation, be administered by a Board of Management consisting of the office-bearers and such other persons as may be provided for in such rules and elected in accordance therewith.

(2) The first Board of Management of the Corporation shall be the Board of Management of the Association holding office on the day preceding the date of commencement of this Act.

Rules of the Corporation.

(1) It shall be lawful for the Corporation from time to time, at any general meeting of the members and by the votes of at least two-thirds of the members present and voting, to make such rules as are not inconsistent with the provisions of this Act or any other written law, for the management of the affairs of the Corporation and the accomplishment of its objects, for the election office bearers and members of the Board of Management and their respective terms of office. Such rules when made may, at a like meeting and in like manner, be altered, added to, amended or rescinded.

(2) The members of the Corporation shall be subject to the rules of the Corporation.

Debts due by and payable to the Association.

7. All debts and liabilities of the Association existing on the day preceding the date of commencement of this Act shall be paid 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.

Corporation may hold property, movable and immovable.

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 of the Corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.

Seal of the Corporation.

9. The seal of the Corporation shall be in the custody of the Honorary General Secretary and it shall not be affixed to any instrument whatsoever except in the presence of the Honorary General Secretary and either the President or the Honorary Treasurer who shall sign their names to the instrument in proof of the seal having been affixed in their presence, and such signing shall be* independent of the signing of any person as a witness.

Saving of the rights of the Republic and others.

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.

Sinhala text to prevail in case of inconsistency .

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