Madampe Thaniwella Maha Devale Trust (Incorporation) Act 2009

This Act may be cited as the Madampe Thaniwella

Maha Devale Trust (Incorporation) Act, No. 2 of 2009.

From and after the date of commencement of this Act, such and so many persons as now are members of the

“Madampe Thaniwella Devale Trust” (hereinafter referred to as “The Trust”) and shall hereafter be admitted members of the Corporation hereby constituted, shall be a body corporate

(hereinafter referred to as “The Corporation”) with perpetual succession, under the name and style of “The Madampe

Thaniwella Maha Devale Trust” and by that name may sue and be sued, with full power and authority to have and use a common seal and to alter the same as may be decided by the

Board of Management.

The general objects for which the Corporation is constituted are hereby declared to be—

to maintain, improve and manage the Madampe

to perform and observe all religious rites in

to organize, supervise and carry out the annual alms giving at the said Devale ;

to provide for the propagation of the Buddha dhamma among Buddhists and the fostering of the order of the Sangha ;

to provide for the teaching of Dhamma to Buddhists by Bhikkus and for the maintenance and welfare of such Bhikkus ; and

to encourage the Buddhists to live a life according to the teachings of Buddha.

The affairs of the Corporation shall, subject to the provisions of this Act, and any rule that may be made under section 6, be administered by a Board of Trustees (hereinafter referred to as “the Board”).

The first Board of Trustees of the Corporation shall consist of the members of the Madampe Thaniwella Maha

Subject to the provisions of this Act and any other written law the Corporation shall have the power —

to acquire and hold any property, movable or immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition or otherwise ;

to sell, mortgage, lease, exchange or otherwise dispose of any such property ;

to appoint, employ, remunerate, exercise disciplinary control over and dismiss such officers and servants as may be necessary for the purpose of carrying out the objects of the Corporation ;

to receive grants, gifts or donations in cash or kind whether from local or foreign sources;

to open, operate and close bank accounts and to borrow or raise money with or without security ;

to invest moneys belonging to the Corporation in such securities as may be determined by the Board.

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

Any rule made by the Corporation may be amended, altered, added to or rescinded at a like meeting and in like manner as a rule made under subsection (1).

The Members of the Corporation shall be subject to the rules of the Corporation made under this section.

The Corporation shall have its own fund and it shall consist of all moneys received by way of gifts, testamentary dispositions, grants, donations, contributions or fees in cash or kind.

All moneys received shall be deposited in the name of the Corporation in one or more banks and be invested in any suitable manner to achieve the objects of the Corporation as may be decided by the Board.

All expenditure incurred by the Corporation in the exercise, performance and discharge of the powers, duties and functions of the Corporation shall be paid out of the fund of the Corporation.

The Corporation shall cause proper accounts to be kept of income and expenditure, assets and liabilities and all other transactions of the Corporation.

The accounts of the Corporation shall be audited by a qualified auditor as may be determined by the Board.

All debts and liabilities of the Trust existing on the day preceding the date of commencement of this Act, shall be paid by the Corporation and all debts due to, subscriptions and contributions payable to the Trust on that day shall be paid to the Corporation for the purpose of this Act.

If upon the dissolution of the Corporation there remains after the satisfaction of all its 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 institute or institutes having objects similar to those of the Corporation, and which is or are by the rules thereof prohibited from distributing any income or property among its or their members. Such institution or institutions shall be determined by the Board at or immediately before the dissolution of the

Corporation.

The seal of the Corporation shall be in the Custody of a person or persons as may be determined by the Board of

Trustees of the Corporation and not be affixed to any instrument whatsoever except in the presence of such number of office bearers as may be provided for in the rules of the

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.

Nothing in this Act contained shall prejudice or affect the rights of the Republic or of any body politic or corporate.

In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.