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Short title.
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1. This Act may be cited as the Young Men’s Buddhist Association, Wadduwa (Incorporation) Act.
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Incorporation.
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2. From and after the passing of this Act, the President, other office-bearers and members of the Board of Management for the time being of the Young Men’s Buddhist Association, Wadduwa, and such and so many persons as now are members of the said Young Men’s Buddhist Association, Wadduwa, 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, Wadduwa” and by that name shall 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 their 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) the study, observance and propagation of Buddhism;
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(b) the promotion of unity and co-operation among Buddhists;
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(c) social and public welfare work;
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(d) the advancement of the physical, intellectual and social welfare of the members.
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Committee of Management and Board of Trustees.
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4.
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(1) The affairs of the corporation shall, subject to the rules in force for the time being of the corporation as hereinafter provided, be administered by a Committee of Management consisting of the President, five Vice-Presidents, four Chairmen of Departmental Committees, three Honorary Joint Secretaries, the Honorary Treasurer, the Honorary Assistant Treasurer, the General Manager and fifteen other members to be elected in accordance with the rules for the time being of the corporation.
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(2) There shall also be a “Board of Trustees” of the corporation constituted with a panel of ten office-bearers from the Committee of Management for the time being as set out under subsection (I) and shall consist of: the President, the Chairman of the Departmental Committees, the Honorary Joint Secretaries, the Honorary Treasurer, and the General Manager, who shall be the guardian and custodian of all property belonging to the corporation subject to the rules in force for the time being of the corporation.
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(3) All members of the corporation shall be subject to the rules in force for the time being of the corporation.
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The first Committee of Management &c.
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5. The Committee of Management and the Board of Trustees holding office on the date of commencement of this Act, shall be the first Committee of Management and the Board of Trustees, respectively, of the corporation.
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General meetings.
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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 conduct of the duties of the Committee of Management and of the various officers, agents and servants of the corporation; for the procedure in the transaction of business; and otherwise generally for the management of the affairs of the corporation and the accomplishment of its objects. Such rules when made, may, at a like meeting, be altered, added to, amended, or cancelled, subject however, to the requirements of section 8.
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Rules in the Schedule* to be rules of the corporation. (*Schedule omitted. – Private enactment.)
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7. Subject to the provisions in the preceding section contained, the rules set forth in the Schedule hereto shall for all purposes be the rules of the corporation:
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Provided however, that nothing in this section contained shall be held or construed to prevent the corporation at times hereafter from making fresh rules, or from altering, amending, adding to, or cancelling any of the rules in the Schedule* or to be hereafter made by the corporation.(*Schedule omitted.- Private enactment.)
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Procedure for amendment of rules.
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8. No rule in the Schedule* hereto, nor any rule hereafter passed at a General Meeting, shall be altered, added to, amended or cancelled except by a vote of two-thirds of the members present at a General Meeting of the corporation, provided that such amendment shall have been previously approved by the Committee of Management.(*Schedule omitted.- Private enactment.)
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Debts,& c, due by and payable to the corporation.
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9. All the debts and liabilities of the said Young Men’s Buddhist Association, Wadduwa, existing at the time of the coming into operation of this Act shall be paid by the corporation hereby constituted, and all debts due to and subscriptions and contributions payable to the said Association shall be paid to the said corporation for the purposes of this Act.
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How the seal of the corporation to affixed.
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10. The seal of the corporation shall not be affixed to any instrument whatsoever except in the presence of three members of be the Board of Trustees of the corporation for the time being constituted under section 4 (2), and subject to the rules in force for the time being of the said corporation, 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 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 purposes of this Act 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 the rights of the Republic and others.
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12. Nothing in this Act contained shall prejudice or affect the Republic, or any body politic or corporate, or any other persons, except such as are mentioned in this Act and those claiming by, from, or under them.
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