Maitreya Buddha Dharmadutha Foundation (Incorporation) Act 1999

This Act may be cited as the Maitreya Buddha

Dharmadutha Foundation (Incorporation) Act, No. 39 of 1999.

From and after the date of commencement of this

Act, such and so many persons as now are members of the

Maitreya Buddha Dharmadutha Foundation (hereinafter referred to as the “Foundation”), and such other persons as 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 “Maitreya Buddha Dharmadutha

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 to alter the same at its pleasure.

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

to promote and foster the spiritual and cultural practices and teachings of Buddha in Sri Lanka in general ;

to propagate Buddha Dhamma by holding worship services and to transmit the Maitreyan Tri-ratna by performing the relevant rituals ;

to uplift and improve the socio-economic conditions of the people of Sri Lanka and help them attain a higher life by propagating Buddha Dharma ;

to provide financial aid and award scholarships to children in indigant conditions and grant financial aid and assistance in any other form, for the advancement, of education and knowledge, including the establishment of libraries and cultural centres ;

to collaborate or amalgamate with any other institution or organization, whether foreign or local, having objects similar to those of the

to conduct and sponsor conferences, lectures, seminars, workshops and group studies within or outside Sri Lanka for the purpose of achieving the objects of the Corporation ;

to print, publish and distribute books, journals, bills, news papers and magazines which the Corporation may consider desirable for the promotion and advancement of its objects ;

to establish vocational tranining centres and conduct training programmes with a view to providing employment for youth ; and

to generally do all such acts and things as are necessary for, or incidental or conducive to the carrying out or the attainment of the objects of the

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 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, borrow or raise the money with or without security, receive or collect grants and donations, to invest its funds, enter into contracts and agreements and to engage, employ and dismiss officers and servants required for the carrying out of the objects of the Corporation.

The affairs of the Corporation shall, subject to the rules of the Corporation be administered by a Board of

The first Board of Management shall consist of the

It shall be lawful for the Corporation, from time to time at any general meeting of the members and by a majority of not less than two-thirds of the members present and entitled to vote to make rules not inconsistent with provisions of this Act or any other written law for the admission , expulsion re withdrawal of members, for the election of members of the Board of Management, for the conduct of the duties of the Board of Management and of the various officers, agents and servants of the Corporation for the procedure to be followed in the transaction of business at meetings of the Corporation and the Board of Management and otherwise generally, for the management of the affairs of the Corporation and attainment of its objects. Such rules when may at a like meeting and in like manner, be altered, added to, amended or rescinded.

Every members of the Corporation shall be subject to the rules in force for the time being of the Corporation.

No rules of the Corporation which may hereafter be passed, shall be altered added to, amended or rescinded ex-cept by the votes of two-thirds of the members present and voting at a general meeting of the Corporation :

The rules of the Foundation in force on the day preceding the date of commencement of this Act shall be deemed to be the rules of the Corporation made under this section in so far as they are not inconsistent with the provisions of this Act or any other written law.

The Board of Managment of the Corporation shall cause proper books of account to be kept of the income and expenditure of the Corporation.

All moneys received by way of donations, testamentary dispositions, transfers, contributions or fees shall be deposited in the name of the Corporation in one or more banks as the Board of Management shall determine.

The Corporation may create any depreciation funds reserve or sinking fund for the rehabilitation, imporvement and the development of the proerty of the Corporation.

The Corporation shall be organized and operated as a non profit organization and no part of the gains, profits or dividends if any of the Corporation shall be distributed among the members of the Corporation.

In the case of dissolution of the Corporation all the assets remaining after payment of all debts and liabilities thereof shall be transfered to an organization established or organized exclusively for charitable , religious or cultural purposes.

The Corporation shall have its own fund and all monies heretofore or hereafter received by way of gift, bequest, donation, subscription, fees or grants for and on account of the Corporation shall be deposited to the credit of the Corporation in one or more banks as the Board of

There shall be paid out of the funds any expenditure incurred by the Corporation in the exercise, performance and discharge of its powers, duties and functions under this

All debts and liabilities of the Foundation existing on the day preceding the date of commencement of this Act, shall be paid by the Corporation hereby constituted and all debts due to, subscriptions and contributions payable to, the

Foundation on such day shall be paid to the Corporation for the purpose of this Act.

The Corporation shall be able and capable in law to acquire and hold any property movable or immovable which may become vested in it by virtue of purchases, grants, gifts, testementary disposition or otherwise and all such property shall be held by the Corporation for the purposes of this Act and subject to the rules in force for the time being of the

Corporation and shall have full power to sell, mortgage, lease, exchange or otherwise dispose of the same.

The Seal of the Corporation shall not be affixed to any instrument whatsoever except in the presence of the

Chairman, the Secretary or the Treasurer who shall place their names to the instrument in taken of their presence and such signing shall be independent of the singning of any person as a witness.

Nothing in this Act shall prejudice or affect the rights of the Republic or of 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.

In the event of any inconsistency between the

Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.