Padmanabha Foundation (Incorporation) Act 1993

This Act may be cited as the Padmanabha Founda-tion (Incorporation) Act, No. 35 of 1993.

From and after the date of commencement of this

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

Padmanabha Foundation (hereinafter referred to as the

“ Foundation”) or 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

“Padmanabha Foundation”, and by that name may suc and be sued in all courts, with full power and authority to have and use a common seal and alter the same at its pleasure.

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

to assist the poor and to alleviate poverty ;

to promote peace, racial and religious harmony amongst Sri Lankans

to protect women and childern and to assist the disadvantaged persons

to assist in the reconstruction of property, and rehabilitation of persons, affected by violence ana natural disasters

to promote and assist in social and economic deve-lopment of the poor and the disadvantaged ;

to promote and essist in safeguarding the environ-ment

to provide, scholarships to deserving students and grants to disadvantaged persons

to train persons engaged in activities which are in furtherence of these objects, by conducting seminars, discussions and workshops ;

to conduct research for the purposes of these objects and to publish educational and informative material and to make documentary and educational films, and videos and recordings

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 whatsoever, as are necessary or desirable for the promo-tion or furtherance of the objects of the Corporation or any one of them, including the power to open, operate ara close bank accounts, to borrow or raise moneys, with or without security, to receive or collect grants and donations, to invest its funds, and to engage, employ and dismiss officers and servants required for the carrying out the objects of the Corporation.

The affairs of the Corporation shall, subject to the rules of the Corporation, be administered by a Board of Directors consisting of such number of Directors as may be provided for in such rufés and elected in aecerdance therewith.

The first Board of Directors of the Corporation shall be the Board of Directors of the Foundation holding office on the day immediately preceding the date of commencement of this Act.

It shall be lawful for the corporation, from time to time, at a special general meeting of the members and by a majority of at least two-thirds of the members present and voting, to make rules, not inconsis.

The members of the Corporation shall be subject to the rules of the Corporation.

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, and subscriptions and constributions payable to, the Foundation on that day shall be paid to the Corporaticn for the purposes of this Act.

The Corporation shall be able and capable in law to acquire and hold any property, movable or immovable, upon or by virtue of, any instrument of purchase, grant, gift or lease, or upon or by virtue of, any testamentary disposition or otherwise, and all such property shall be held by the Corporation, for the purpose of this Act, and subject to the rules for the time being of the Corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the squne.

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Padmanabha Foundation (Incorporation)

Seal of the Corporatic:

The seal of the Corporation shall be in the custody of the Secretary and shall not be affixed to any instrument whatsoever except in the presence oi such number of persons as may be provided for in the rules of the Cor-poration who shall sign their names on the instrument in token of their presence, and such signing shall be independent of the signing of any person as a witness.

The income of the Corporation shall be utilised for the advancement of the objects of the Corporation.

Neither the income nor the assets of the Corporation nor any part thereoi may be distriputed to the members of the Corporation

:

Provided .that a Director muy be reimbursed expenses incurred by him attending meetings of the Board of

Directors.

If upon the dissolution of the Corporation, there remains after the satisfacvien of all its debts and liabilities.

any property whatsoever, such property shall not be distributed among the members of the corporation, but shall be transferred to the Publie Trustee to be used for purposes identical with, or similar to, that of the objects of the Corporaiton.

Nothing in this Act contained shall affect or be deemed to affect the rights of the Republic, or of any body politic or corporate, or of any other persons, except such as are mentioned in this Act, and those claiming by, from, or under, them.

In vce evens si acy inconsistency between the

Sinhala und Tamil te:ts of this Act, the Sinhala text shall prevail.

Axr-ual subscription of English Bills and Acts of the Parliament Rs. 885 (Leal).

Rs, 1,180 (Foreign), payable to the SwuPrERINTENDENT GOVERNMENT PUBLICATIONS

Bureat, No. 255 Bauddhaloka Mawatha Colombo 7, before 15th December each year in respect of the year following,