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A LAW TO INCORPORATE THE YOUNG MEN’S BUDDHIST ASSOCIATION, MAGGONA.
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[18th April
, 1974 ]
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Short title.
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1. This Law may be cited as the Young Men’s Buddhist Association, Maggona Law.
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Incorporation.
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2. From and after the date of commencement of this Law, the President, Vice-Presidents, and members of the Board of Management for the time being of the Young Men’s Buddhist Association, Maggona, and such and so many persons as now are members of the said Young Men’s Buddhist Association, Maggona, or shall hereafter be admitted members of the corporation hereby constituted, shall be and become a corporation with continuance for ever under the style and name of “The Young Men’s Buddhist Association, Maggona”, and by that name shall have perpetual succession and 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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Objects.
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3. The general objects for which the corporation is constituted are hereby declared to be-
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(a) the advancement of mutual love, morality and unity among Buddhists; the common welfare of Buddhists;
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(b) the propagation of Buddhism; the advancement of Buddhist and national education; the protection of the interests of Buddhism;
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(c) the adoption of ways and means whereby Buddhists are made more mindful of Buddhist doctrine; the rendering of assistance to Buddhist activities.
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Rules.
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4.
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(1) The rules set forth in the Schedule shall for all purposes be the rules of the corporation:
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Provided that the corporation may at any duly constituted general meeting, make fresh rules, or alter, amend or add to or cancel any of the rules which are set forth in the Schedule* or which may be made hereafter by the corporation.
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(2) No fresh rule shall be made, nor shall any rule which is in the Schedule* or which shall have been hereafter made be altered, added to, amended or cancelled, except on a special resolution of which not less than twenty-eight days’ notice shall have been given, and which resolution shall have been passed by a majority of not less than two-thirds of the members present and voting at a general meeting specially convened for the purpose.
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Debts,& c.
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5. All debts and liabilities of the said Young Men’s Buddhist Association, Maggona, existing at the time of the coming into operation of this Law shall be payable by the corporation, and all debts due to and all subscriptions and contributions payable to the said Association shall be payable to the said corporation.
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Seal of the corporation.
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6. The seal of the corporation shall not be affixed to any instrument whatsoever except in the presence of at least the President of the corporation and either its Secretary or its Treasurer, who shall sign 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.
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Corporation to hold property, &c
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7.
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(1) The corporation shall have the right and power to enter into any contract in furtherance of its aims and objects, subject to the rules of the corporation for the time being.
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(2) The corporation shall be able and capable in law to take and hold any property, movable and 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 Law, and subject to the rules for the time being of the said corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.
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Saving of rights of the Republic and others
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8. Nothing in this Law contained shall prejudice or affect the right of the Republic, or of any body politic or corporate, or of any other persons, except such as are mentioned in this Law and those claiming by, from, or under them.
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