Institute of Real Estate Professionals, Sri Lanka Act 2026 · As enacted
28. Rules of the Institute
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
The Council may, from time to time, at any annual general meeting or special general meeting of the Institute and by a majority of the members present and voting, make rules, in respect of all or any matter for which rules are authorized or required by this Act to be made. Such rules when made, may, at a like meeting and in like manner, be altered, added to, amended or rescinded.
Without prejudice to the generality of the powers vested in the Council under subsection (1), the Council may make rules, not inconsistent with the provisions of this
Act and any other written law in respect of all or any of the following matters: -
classification of membership, the fee payable to each grade of membership and procedure to be followed in the admission, upgrading, withdrawal, suspension, expulsion or resignation of members;
disciplinary procedures, complaint handling and compliance of the provisions of the Code of
Professional Conduct;
powers, duties and functions of the office bearers of the Institute and their appointment, remuneration, termination of office and the procedure to be observed for summoning and holding of meetings of the Institute and the
Council and any Committee thereof including the conduct of business of such meetings;
qualification, disqualification and other eligibility criteria as deemed fit for admission in to Corporate and Non-Corporate membership and different grades of membership of the
Institute;
other eligibility criteria as deemed fit for suspension, expulsion or re-admission of members from the categories of membership formally held;
Code of Professional Conduct applicable to the members of the Institute; and
administration and management of the property of the Institute and general management of the affairs of the Institute.
Every rule made by the Council shall be published in the Gazette and shall come into operation on the date of its publication or on such later date as may be specified therein.