|
Short title.
|
1. This Ordinance may be cited as the Ceylon Police Saving Association Ordinance.
|
|
Interpretation.
|
2. In the interpretation of this Ordinance the following words and expressions shall have the following meanings unless such meanings be inconsistent with or repugnant to the subject or context:-
|
|
” corporation” means the president, chairman, and members of the committee of management for the time being of the Ceylon Police Saving Association and the members for the time being of the Ceylon Police Saving Association constituted a corporation under the provisions of this Ordinance;
|
|
” rules” means the rules of the corporation made under this Ordinance and for the time being in force;
|
|
“member” means a person duly admitted as a member of the corporation in accordance with the provisions of this Ordinance and of the rules.
|
|
“United Kingdom” means the United Kingdom of Great Britain and Northern Ireland.
|
|
Incorporation of the Ceylon Police Saving Association.
|
3. From and after the passing of this Ordinance the president, chairman, and members of the committee of management for the time being of the Ceylon Police Saving Association, and such and so many persons as are now members of the Ceylon Police Saving Association or as shall hereafter be admitted as members of the said association shall be and become a corporation with continuance for ever under the style and name of ” The Ceylon Police Saving 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 corporate seal and to change and alter the same at their pleasure.
|
|
General objects.
|
4. The general objects for which the corporation is constituted are hereby declared to be to promote thrift amongst the members of the Ceylon police force, members of the Ceylon Government clerical service while attached to or serving in the Police Department, the lecturers and instructors attached to or serving in the Police Training School, and members of the senior division of the Police Boys’ Brigade, and to provide for payment of a capital sum to them or their nominees or legal representatives in accordance with the rules.
|
|
Committee of management,
|
5.
|
(1) The affairs of the corporation shall, subject to the rules, be administered by a committee of management consisting of the president and not less than five other members to be elected respectively in accordance with any provisions in that behalf contained in this Ordinance or in the rules. In the event of any casual vacancy occurring in the committee of management it may be filled forthwith by the remaining members of the committee, and any person so appointed to fill a casual vacancy shall only hold office for so long as the person in whose place he was appointed would have held the same if no vacancy had occurred.
|
|
(2) The first committee of management shall consist of H. L. Dowbiggin, Esq., C. M. G., J.P;, as president; D. V, Altendorff, Esq., as chairman of committee; G. H. Bromley, Esq., as treasurer; W. T. Brindley, Esq., as secretary; J. D, Aitken, Esq.,; and Inspector D. Lloyd.
|
|
(3) The Inspector-General of Police or Acting Inspector-General of Police for the time being and from time to time shall be ex officio president of the corporation.
|
|
|
Power to make rules.
|
6. 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 amount of subscriptions payable by members and for the payment of moneys due to them; for the performance of the duties and the exercise of the powers of the committee of management and of the various officers, agents, and servants of the corporation; for the procedure to be observed in the transaction of business; and otherwise generally for the management of the affairs of the corporation and the accomplishment of its objects.
|
|
Alteration of rules.
|
7. The rules when made may at any general meeting of the members be altered, added to, amended, or cancelled, subject, however, to the following restrictions, namely:-
|
(i) that no rule passed and no decision come to by the corporation in general meeting shall be altered, added to, amended, or cancelled except by a majority of three-fourths in number of the members present and voting at any subsequent general meeting;
|
|
(ii) that no rule or decision nor any alteration, amendment, addition, or cancellation of any rule or decision shall have effect until the same has been published in Part II of the Ceylon Police Gazette;
|
|
(iii) that no alteration, addition, amendment, or cancellation shall be made in the rate of the subscription to be paid by members or in the amount of the benefit (other than bonuses) to accrue to members in respect of their subscriptions unless the proposal to make such alteration, addition, amendment, or cancellation shall have previously been sanctioned in writing under the hand of the president of the corporation.
|
|
|
Rules to bind members.
|
8. The rules of the corporation shall bind the corporation and all members thereof and all persons claiming through them respectively to the same extent as if each member had subscribed his name thereto and there were contained in such rules a covenant on the part of himself, his heirs, executors, and administrators to conform thereto subject to the provisions of this Ordinance.
|
|
Vesting of property in corporation.
|
9. On the passing of this Ordinance all and every the property, estate, and effects and funds and moneys belonging to the Ceylon Police Saving Association as existing prior to the passing of this Ordinance, whether held in the name of the Ceylon Police Saving Association or in the name or names of any person or persons on behalf of or in trust for the Ceylon Police Saving Association, shall be and the same are hereby vested in the corporation, and the same, together with all after-acquired property, both movable and immovable, and all subscriptions, contributions, grants, donations to be hereafter made, and any other additions thereto shall be held by the corporation for the uses, ends, and purposes in this Ordinance and in the rules provided and declared.
|
|
Debts of association.
|
10. All debts and liabilities of the Ceylon Police Saving Association existing at the time of the passing of this Ordinance shall be paid by the corporation, and all debts, subscriptions, and contributions payable to the Ceylon Police Saving Association and existing at the time of the passing of this Ordinance shall be paid to the said corporation for the purposes of this Ordinance.
|
|
Use of seal.
|
11 The seal of the corporation shall not be affixed to any instrument whatsoever except in the presence of two of the members of the committee of management, who shall sign their names in attestation thereof, and such signing shall be independent of the signing of any person as a witness.
|
|
Power to hold property-
|
12. The corporation shall have full power to take and hold property, whether movable or immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition, or otherwise, and all property vested in it under section 9 of this Ordinance ; and all such property shall be held by the corporation for the purposes of this Ordinance with power to sell, mortgage, lease, exchange, or otherwise dispose of the same subject to any provision in that behalf contained in this Ordinance or in the rules.
|
|
Receipt in discharge of mortgages, & c.
|
13. A receipt under the hands of two members of the committee of management countersigned by the treasurer acknowledging the receipt by the corporation of any moneys secured to the corporation by any mortgage or other assurance and endorsed upon such mortgage or other assurance shall vacate the same.
|
|
Investment of funds.
|
14 It shall be lawful for the corporation, subject to the rules, to invest any portion of the funds belonging to the corporation and any moneys or funds belonging or left to or which shall hereafter be paid into or come into the hands of the corporation or into the hands of any person in trust for the corporation on the following securities or any of them and no others with power for the corporation from time to time to vary any such investments for others of the same or like nature :-
|
(a) in promissory notes, debentures, stock, or other securities of the Government of Ceylon, or of the Government of United Kingdom or of the Government of India;
|
|
(b) in bonds, debentures, and annuities charged by the Parliament of United Kingdom on the revenue of India ;
|
|
Provided that the property is not a leasehold for a term of years and that the value of the property exceeds by one-third, or if consisting wholly or mainly of buildings exceeds by one-half, the mortgage moneys;
|
|
(c) in any Colonial stock which is registered in the United Kingdom in accordance with the provisions of the Colonial Stock Acts, 1877, 1892, and 1900, and with respect to which there have been observed such conditions (if any) as the Lords Commissioners of the Treasury of the United Kingdom may by order notified in the London Gazette prescribe ;
|
|
(d) in the debenture or rent charge or guaranteed or preference stock of any railway company in Great Britain or Ireland incorporated by special Act of Parliament of the United Kingdom and having during each of the ten years last past before the date of investment paid a dividend at the rate of not less than three per centum per annum on its ordinary stock ;
|
|
(e) in stock or debentures of or shares in any railway or other company the interest whereon shall have been guaranteed by the Government of India ;
|
|
(f) on a first mortgage of immovable property situated in Ceylon or the United Kingdom :
Provided that the property is not a leasehold for a term of. years and that the value of the property exceeds by one-third, or if consisting wholly or mainly of buildings exceeds by one-half, the mortgage moneys ;
|
|
(g) on any other security authorized as a trustee investment by the law of England for the time being (other than real or heritable securities);
|
|
(h) on any other security expressly authorized by any rule which the Secretary to the Treasury may from time to time prescribe in that behalf:
|
|
|
Provided always that nothing in this section shall be deemed to preclude in any case a deposit of such moneys or funds as aforesaid or any part or portion thereof in the name of the corporation in such bank or banks as to the committee of management may seem fit; and
|
|
Provided also that, notwithstanding anything hereinbefore contained, the corporation shall be at liberty to hold any debentures, securities, stocks, or shares, whether ordinary or preference, in any company with limited liability that may be bequeathed or given to the corporation, whether such company shall at the time of such bequest or gift be paying a dividend on its ordinary shares or not, without being obliged to sell or realize the same and to invest the proceeds of any sale or realization when made on investments hereby authorized.
|
|
Letters of administration when to be dispensed with.
|
15. In the case of the death of any member leaving no nominee and where the corporation shall be satisfied by affidavit that the member died intestate and that no letters of administration are required by law to be taken out to his estate, the corporation shall be at liberty to pay all moneys payable under the rules to any person or persons appearing to the corporation to be entitled thereto as heir or heirs-at-law of the deceased member and such payment when made shall be a full discharge to the corporation from all further liability in respect of the moneys so paid, provided that where any person appearing to be entitled as aforesaid is a minor the money to which such person is entitled shall be deposited in a Government savings bank (including the National Savings Bank) in the name of such minor.
|
|
Membership of minors
|
16. A person under the age of twenty- one years but above the age of fourteen years and being under the provisions of this Ordinance and of the rules otherwise eligible to be a member may be a member of the corporation, and may subject to the rules of the corporation enjoy all the rights of a member and execute all instruments and give all acquittances necessary to be executed or given under the rules but shall not be a member of the committee of management, secretary, or treasurer of the corporation.
|
|
Saving of the rights of the Crown.
|
17. Nothing in this Ordinance contained shall prejudice or affect the rights of Her Majesty the Queen Her Heirs and Successors, or of any body politic or corporate, or of any other persons, except such as are mentioned in this Ordinance and those claiming by , from , or under them.
|
|
