Pulathisi Daruwo Foundation Trust (Incorporation) Act 2010

This Act may be cited as the Pulathisi Daruwo

Foundation Trust (Incorporation) Act, No. 6 of 2010.

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

“Pulathisi Daruwo Foundation Trust” (hereinafter referred to as the “Foundation”) or shall hereafter be admitted as members of the Corporation hererby constituted, shall be a body corporate (hereinafter referred to as the “Corporation”), with perpetual succession, under the name and style of the

“Pulathisi Daruwo Foundation 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 at its pleasure.

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

to organize, conduct and develop the educational activities and pre-training activities for the poor children and youth ;

to promote skills of youths ;

to encourage the farmers and to establish young

to grant opportunities for training for youth in pre-vocational education, sports activities, leadership, computer, media and Tamil, English and other languages ;

to train persons engaged in activities in furtherance of national unity by conducting seminars, discussions and workshops ;

to commemorate and honour outstanding persons who have contributed towards national unity, by grant of awards, prizes, scholarships and fellowships ;

to establish libraries, archives and centres to preserve and to protect the cultural heritage of all communities in Sri Lanka ;

to promote welfare activities for the benefit of children, women and orphans;

to provide assistance by way of scholarships, loans advances and grants to deserving students to pursue studies and research in Sri Lanka and abroad;

to establish and maintain Institutions for the welfare and rehabilitation of the destitute, the disable, the aged, the sick and displaced Persons ;

to promote mutual understanding and co-operation among people irrespective of race and religion ; and

to establish and maintain projects for the protection, management and conservation of the environment ;

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

acquire, hold, take or give on lease or hire, mortgage, pledge, sell, exchange, or otherwise alienate, encumber or dispose of, any immovable property for the purpose of the Corporation ;

enter into and perform or carry out, whether directly or through any officer or agent authorized in that behalf by the Corporation, all such contracts or agreements as may be necessary for the attainment of the objects or the exercise of the powers of the

accept gifts, donations and bequests in cash or in kind ;

invest its funds, create and administer Trusts and to maintain current deposits and savings accounts in any bank ;

publish or cause to be published books, journals, magazines and other literature and establish and maintain libraries, bookshops and printing presses;

advance or lend and to borrow money for the purposes of the Corporation in such manner and upon such security as the Corporation may think fit; and

appoint, employ, transfer, exercise disciplinary control over and dismiss officers and servants required for the carrying out of the objects of the

The affairs of the Corporation shall subject to the rules of the Corporation, made under section 6 be administered by a Board of Management (hereinafter referred to as “Board”) consisting of the Chairman, Vice Chairman,

The first Board of Control of the Corporation shall be the Board of Control of the Foundation, holding office on the day immediately proceeding the date of commencement of this Act.

Mr. Maithripala Sirisena shall, until a Chairman is elected in terms of this Act, be the Chairman of the first Board of Management of the Corporation.

It shall be lawful for the Corporation from time to time at an Annual General Meeting or at any Special General

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

All debts and liabilities of the Foundation on the day preceding the date of commencement of this Act shall be paid to the Corporation hereby constituted and all debts due

Pulathisi Daruwo Foundation Trust to, subscriptions and contributions payable to the Foundation on the day shall be paid to the Corporation for the purpose of this Act.

The Corporation shall have its own fund

There shall be credited to the Fund—

The financial year of the Corporation shall be the calendar year ;

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

The accounts of the Corporation shall be audited by a qualified auditor ,

in this section, “Qualified Auditor” means—

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

President and the Secretary or such other person duly authorized by the Board 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.

No person shall be liable in any suit or other legal proceeding for any act done, or purporting to be done in good faith in pursuance of the powers conferred by or under this Act, or for the purpose of carrying out the provisions 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 Associaiton or

Associaitons having objects similar to the objects of the

Corporation, and which is or are by the rules made under section 6 prohibited from distributing any income or property among its or their members of the Corporation at, or mmediately before, the time of the dissolution of the

Corporation.

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

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

Pulathisi Daruwo Foundation Trust