Act of Parliament · As enacted
Organization for the Erection of Balana Buddha Statue (Incorporation) Act 2012
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
s 1Short title
This Act, may be cited as the Organization for the
Erection of Balana Buddha Statue (Incorporation) Act,
No. 16 of 2012.
s 2Incorporation of the Organization for the Erection of Balana Buddha Statue
From and after the date of commencement of this
Act, such and so many persons as now are members of the
Organization for the Erection of Balana Buddha Statue
(hereinafter referred to as the "Organization") or shall hereafter be admitted as members of the Corporation hereby constituted shall be a body corporate with perpetual succession, under the name and style of the Organization for the Erection of Balana Buddha Statue (hereinafter referred to as the "Corporation") and by that name may sue and be sued and shall have full power and authority to have and to use a common seal and to alter the same at its pleasure.
Organization for the Erection of Balana
Buddha Statue (Incorporation)
s 3General objects of the Corporation
The general objects for which the Corporation is constituted are hereby declared to be:—
to cause to be carved a Buddha Statue on Belungala,
Balana, Kadugannawa and to adopt necessary measures for the maintenance of the same ;
to take steps to inculcate the principles of
Theravada Buddhism among Buddhists all over the world including persons belonging to the
Buddhist faith in Sri Lanka;
to take necessary steps to protect the Buddhist heritage in Sri Lanka ;
to make arrangements to promote Buddhist education among adherents of the Buddhist faith;
to assist the artists belonging to the Buddhist faith and engaged in the art of colossal stone carving, in order to enhance their standard of living; and
to promote awareness of Buddhist principals among adherents of the Buddhist faith;
The affairs of the Corporation shall, subject to the provisions of this Act and the rules of the Corporation made under section 6, be administered by a Committee of
Management consisting of nine members including the
President, two Vice Presidents, a General Secretary, Assistant
Secretary and a Treasurer who shall be elected in accordance with the rules of the Corporation.
The first Management Committee of the Corporation shall consist of the members of the Organization for the
Creation of Balana Buddha Statue holding office on the day immediately preceding the date of commencement of this
Act who shall hold office until a new Management
Committee is elected under the rules of the Corporation.
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Organization for the Erection of Balana
Buddha Statue (Incorporation)
The founder member of the Organaization, Ven,
Kamburugamuwa Vajira thero shall be the first President of the Committee of Management of the incorporation.
Subject to the provisions of this Act and any other written law, the Corporation shall have the power to–
borrow or raise money with or without security for the purpose of the Corporation:
Provided that, notwithstanding anything to the contrary in any other provisions of this Act, the
Committee of Management shall obtain prior approval of the Department of External Resources of the Ministry of the Minister to whom the subject of Finance is assigned in respect of all foreign grants, gifts or donations.
utilize and invest the funds belonging to the
Corporation in order to achieve the objects of the
Corporation, in a manner determine by the
Committee of Management;
open, maintain and close bank accounts in any bank or banks as may be determined by the
Committee of Management;
appoint, employ, disciplinary control, dismiss and remunerate officers and servants required for the carrying out of the objects of the Corporation;
to liaise and co-ordinate with other local or foreign institutions which have similar objects; and
to do all other acts and things as are incidental or conducive to the attainment and furtherance of the objects of the Corporation.
Organization for the Erection of Balana
Buddha Statue (Incorporation)
In exercising the powers of the Corporation set out above, the Corporation shall obtain the prior written approval of the Secretary to the Ministry of the Minister to whom the subject of Buddhasasana and Religious Affairs has been assigned.
It shall be lawful for the Corporation, from time to time, at any General Meeting or at a Special General
Meeting, by a majority of not less than one third of the members present and voting, to make rules not inconsistent with the provisions of this Act or any other written law for all or any of the following matters:—
the election of the office bearers, their term of office, resignation from, or vacation of, or removal from office and their powers, duties and functions;
the election and the terms of office of members of the Committee of Management other than the office bearers, and the powers, duties and functions of the members of the Committee;
classification of membership and membership fees, admission, withdrawal and expulsion of members and membership fees;
the administration and management of the property of the Corporation, the custody of its funds and the maintenance and audit of its accounts;
the procedure to be followed at any meeting of the
Committee of Management and the quorum therefore and the conduct of business thereat; and
the mangement of the affairs of the Corporation and the accomplishment of its objects.
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).
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Organization for the Erection of Balana
Buddha Statue (Incorporation)
The members of the Corporation shall be subject to the rules of the Corporation.
s 7Corporation may hold movable and immovable property
Subject to the provisions of this Act, the Corporation shall be able and capable in law to acquire and hold any property both movable and immovable by way of 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 of the Corporation made under section 6 with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.
The Corporation shall have its own Fund and all monies heretofore or hereafter to be received by way of gift, bequest, donation, subscription, contribution or grants on behalf of the Corporation shall be deposited to the credit of the Fund of the Corporation in one or more banks as the
Committee of Management may determine.
There shall be paid out of the Fund all such sums of money as may be required to defray any expenditure incurred by the Corporation in the exercise, performance and discharge of its powers, duties and functions under this Act.
s 9Debts due by and payable to the Organization
All debts and liabilities of the Organization existing on the day preceding the date of commencement of this Act shall be paid and discharge by the Corporation hereby constituted and all debts due, subscriptions and contributions payable to the Organization on that day shall be paid to the
Corporation for the purposes of this Act.
s 10Limitation of liability of members
No member of the Corporation shall for the purpose of discharging the debts and liabilities of the Corporation or for any other purpose be liable to make any contribution exceeding the amount due from such member as membership fees.
Organization for the Erection of Balana
Buddha Statue (Incorporation)
The Corporation shall cause proper accounts t o be kept of all 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 appointed by the Committee of
Management.
For the purposes of this section, "qualified auditor"
means–
an individual who, being a member of the
Institute of Chartered Accountants of Sri Lanka, or of any other Institute estabished by law, possesses a certificate to practice as an
Accountant issued by the Council of such
Institute; or
a firm of Accountants, each of the resident partners of which, being a member of the Institute of Chartered Accountants of Sri Lanka or of any other Institute established by law, possesses a certificate to practice as an Accountant issued by the Council of such Institute.
s 12Seal of the Corporation
The seal of the Corporation shall not be affixed to any instrument except in the presence of the president and two members of the Corporation as may be determined by the Committee of Management, 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
s 13Property remaining on dissolution
If upon the dissolution of the Corporation, there remains any property after the satisfaction of all debts and liabilities, such property shall not be distributed among the members of the Corporation, but shall be given or transmitted to some other institution or institutions having objects similar to those of the Corporation, and which is or are by its rule prohibited from distributing any income or property
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Organization for the Erection of Balana
Buddha Statue (Incorporation)
among its of their members. Such institution or institutions may be determined by the Committee of Management on or before the dissolution of the Corporation.
s 14Saving of the rights of the Republic
Nothing contained in this Act shall prejudice or affect the rights of the Republic or any body politic or corporation.
s 15Sinhala text to prevail in case of inconsistency
In the event of any inconsistency between the
Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.
Organization for the Erection of Balana
Buddha Statue (Incorporation)