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Short title.
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1. This Act may be cited as the Yoshida Educational and Social Services Foundation, Sri Lanka (Incorporation) Act, No. 54 of 1993.
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Incorporation of the Yoshida Educational and Social Services Foundation.
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2. From and after the date of the commencement of this Act such and so many persons as now are members of the Yoshida Educational and Social Services Foundation (hereinafter referred to as “the Foundation”) or shall hereafter be admitted as members of the Corporation hereby constituted in the manner hereinafter provided, shall be a body corporate (hereinafter referred to as “the Corporation “) with the perpetual succession, under the name and style of the “Yoshida Educational and Social Services Foundation” and by that name may sue and be sued in all courts with full power and authority to have and use a common seal and alter the same at its pleasure.
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General objects of the Corporation.
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3. The general objects for which the Corporation is constituted are hereby declared to be
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(a) conduct nursery classes for the purpose of imparting pre-school education for infants ;
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(b) conduct vocational education courses for youths in Sri Lanka ;
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(c) to publish books, pamphlets, magazines, and other periodicals on Buddhism and to distribute them throughout the world with a view to disseminating knowledge of Buddhism;
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(d) to conduct religious and educational discourses, conferences, seminars and to do all such acts as may be deemed necessary for and conducive to the spiritual advancement of mankind;
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(e) to develop cultural activities in Sri Lanka; and (f) to carry out and promote social service activities and welfare activities in all parts of Sri Lanka.
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General powers of the Corporation.
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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 or furtherance of the objects of the Corporation or any one of them including the power to open, operate and close bank accounts, or raise money with or without security, to receive, collect, grants and donations from well-wishers in Sri Lanka and outside Sri Lanka and from the people of Japan in particular, to invest its funds, and to engage, employ and dismiss officers and servants as are required for carrying out the objects of the Corporation.
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Membership of the Corporation.
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5. The Corporation shall have the following members :
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(iii) General Members ; and
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Management, of the affairs of the Corporation.
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6.
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(1) The administration, management and control of the affairs of the Corporation shall, subject to the provisions of this Act, and the rules in force for the time being of the Corporation, be vested in the Board of Management consisting of five members whose names are specified in the Schedule hereto and three other members of the Corporation appointed according to the rules in force for the time being of the Corporation.
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(2) Venerable Banagala Upatissa Thero the present Director of the Foundation, shall be the Chairman and Executive Director of the Board of Management: Provided however that Ven. Eanagala Upatissa Thero shall unless he earlier resigns, continue to be the Chairman and Executive Director of the Board of Management during his life.
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(3) The Vice-Chairman, the Secretary and the Treasurer shall be appointed according to the rules in force for the time being of the Corporation.
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(4) The three members appointed according to the rules in force for the time being of the Corporation shall hold office for three years from the date of appointment and shall be eligible for re-appointment at the end of three years.
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(5) Meeting of the Board of Management shall be held at least once in every six months.
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(6) The quorum for a meeting of the Board of Management shall be three.
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Financial year.
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7. The Financial year of the Corporation shall be the calendar year.
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Rules of the Corporation.
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8.
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(1) The Board of Management may, from time to time, the at a meeting specially convened for the purpose and by majority of the members present and voting to make rules not inconsistent with the provisions of this Act or any other written law, in respect of all or any of the following matters:
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(a) the power, conduct and duties of the members of the Corporation ;
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(b) the procedure to be observed at, and the summoning, and holding of meetings of the Corporation, the times, places, notices and agenda of such meetings and the conduct of business thereat;
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(c) the administration and management of the property of the Corporation, the custody of its funds, and the maintenance and audit of its accounts;
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(d) the management of the affairs of the Corporation and the accomplishment of its objects ; and
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(e) admission of members, disciplinary control and termination of membership.
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(2) Such rules when made may, at a like meeting and In like manner, be altered, added to, amended or rescinded.
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(3) The members of the Corporation shall be subject to the rules of the Corporation.
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Debts due by and payable to the Foundation.
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9. All debts and liabilities of the Foundation existing on the day immediately preceding the date of commencement of this Act, shall be paid by the Corporation hereby constituted and all debts due to, and subscriptions and contributions payable to, the Foundation on the day shall be paid to the Corporation for the purposes of this Act.
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How the seal of the Corporation is to be affixed.
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10– The seal of the Corporation shall not be affixed to any instrument whatsoever except in the presence of the Chairman, Executive Director and one other members of the Board of Management who shall sign their names on the instrument in token of their presence, and such signing shall be independent of the signing of any person as a witness.
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Corporation may hold property movable and immovable.
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11. The Corporation shall be 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 purpose of this Act and subject to the rules in force for the time being of the Corporation with full power to sell, mortgage, exchange or otherwise dispose of the same.
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Accounts of the Corporation.
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12. The Treasurer shall, under the supervision of the Chairman and Executive Director of the Board of Management cause proper books of accounts to be kept of the income and expenditure of the Corporation.
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Property remaining on dissolution.
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13. If upon the dissolution of the Corporation there remains, after the satisfaction of all debts and liabilities, any property whatsoever, such property shall not be distributed among the members of the Corporation, but shall be given or transferred to some other association or institution having objects similar to the objects of the Corporation and which is by the rules thereof, prohibited from distributing any income or property among its members Such association or institution shall be determined by the Board of Management at or immediately before the dissolution of the Corporation.
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