Rathgama Development Foundation (Incorporation)

(a) to promote and engage in the implementation of community welfare, cultural and social development projects in the island ;

(b) to undertake, the execution of road development and housing schemes the construction and improvement of hospitals, educational centres, schools, community centres and such other works and activities as may contribute to the development of the island;

(c) to afford children in indigent circumstances an opportunity to prepare for, to enter upon, or to be engage-ed in a trade, occupation or services and to provide them with outfits, instruction fees or other aminities ;

(d) to provide bursaries, scholarships, prizes, donations, financial aid and assistance in other forms for the advancement, dissemination and propagation of education and knowledge, and for the establishment of schools, libraries and cultural centres ;

(e) to engage in any industry or trade or in any export or import business and to aid and assist persons to commence and operate agricultural, industrial and commercial ventures and particularly such industries as fisheries, the export of fibre, white fibre and fiber products and to undertake training programmes, and extension services and to organise propaganda activities, relating to the transfer of technology ;

(f) to collaborate or participate, with any other institution or organisation, whether foreign or local, having objects similar to those of the Corporation;

(g) to sponsor and conduct conferences, seminars, workshops, group studies and lectures in Sri Lanka and elsewhere in furtherance of the objects of the Corporation ;

(h) to print, publish and distribute books, journals, leaflets, newspapers and magazines which the Corporation may consider desirable for the promotion and advancement of its objects: and

(i) to do such other acts and things as may be necessary, incidental or conducive to the accomplishment of all or any of the objects of the Corporation.

(1) The management, control and administration of the Corporation shall, subject to the rules of the Corporation, vest in a governing Council (hereinafter referred to the Council “) consisting; of such number of governors elected from among the members in accordance with the rules of the Corporation.

(2) The first Council of: the Corporation shall be the governing council of the “Foundation holding office on the day preceding the date of commencement of this Act, and consisting of the member*’whose names are specified in the Schedule hereto.

(3) Notwithstanding anything to the contrary in sub-section (1), Mr. Rannula Nandimittha G. de Zoysa, who shall be the Chairman of the Corporation for life unless He earlier resigns from the said office.

(1) The Council Khali cause to be kept a register of members in which every person who on the day preceding the date of commencement of this Act is a member of the Foundation and every person thereafter duly admitted a member of the Corporation, shall have his name inscribed.

(a) to purchase, acquire, rent, construct and otherwise obtain lands or buildings which may be required for the purposes of the Corporation ;

(b) to borrow or raise money for the purposes of the Corporation ;

(c) to make draw, accept, discount, endorse, negotiate, buy, sell and issue bills of exchange, cheques, promissory notes and other negotiable instruments and to open, operate maintain and close bank accounts;

(d) to invest any funds not immediately required for the purposes of the Corporation in such manner as the Council may think fit ;

(e) to solicit and receive subscriptions, grants, donations and gifts of all kinds ;

(f) to enter into agreements or contracts with any person, company or body of persons ;

(g) to undertake, accept, execute, perform and administer any lawful trusts and conditions affecting any real or personal property ;

(h) to appoint, employ, dismiss or terminate the services of officers and servants of the Corporation, and to pay them such salaries, allowances and gratuities as may be determined by the Corporation ;

(i) to train personnel in Sri Lanka or abroad for the purpose of the Corporation ; and

(j) to do all other things necessary or expedient for the proper and effective carrying out of the objects of the Corporation.

(1) It shall be lawful fur the Corporation, from time to time, at any general meeting and by a majority of not less than two-thirds of the members present and voting, to make rules, not inconsistent with the provisions of this Act, and any other written law for all or any of the following matters:

(2) The rules of the Foundation in force on the day preceding the date of commencement of this Act shall, in so far as they are not inconsistent with the provisions of this Act or other written law be deemed to be the rules of the Corporation and may be amended, altered, added to, or rescinded at a like meeting and in like manner as a rule made under sub-section (1) of this section.

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

(1) The Corporation shall have its own fund and all moneys received by way of gift, bequest, donation, subscription, contribution, fees or grants for and on account of the Corporation shall be deposited to the credit of the Corporation in one or more banks as the Council shall determine.

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

(1) the Council shall cause proper accounts to be kept of all the moneys received and expended by the Corporation.

(2) The accounts of the Corporation shall be examined and audited at least once in every year.

(1) All debts and liabilities of the Foundation 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 Foundation on that day shall be paid to the Corporation for the purposes of this Act.