5. Management of the affairs of the Corporation

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

Subject to other provisions of this Act the management and administration of the affairs of the

Corporation shall be carried out by a Board of Management

(hereinafter referred to as “the Board”) consisting of such number of office bearers as may be specified by the rules made under section 7.

(2)

(a)

The Board of the Foundation holding office on the day immediately preceding the date of commencement of this Act, shall function as the Board of the Corporation until the first Board is appointed or elected in the manner provided for by rules made under section 7.

(b)

The first Board of the Corporation shall be appointed or elected within one year of the date of commencement of this Act.

(3)

(a)

Every office bearer of the Board including the patrons and advisors, shall be appointed or elected for a period of three years and any such office bearer, patron or advisor shall be eligible for re-appointment or re-election after the lapse of the said period of three years.

(b)

In the event of a vacancy occurring due to the death, resignation, incapacity or removal from office of an office bearer, the Board shall having regard to the rules of the

Corporation, elect or appoint a person to fill such vacancy.

(c)

The person elected or appointed under paragraph (b)

above shall hold office only for the unexpired portion of the term of office of the member whom he succeeds.

Read on from s 6