Richmond College Old Boys Association (Incorporation) Act 1998

This Act may be cited as the Richmond College Old

Boys Association (Incorporation) Act, No. 4 of 1998.

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

Richntond College Old Boys Association (hereinafter referred to as “the Association”) or shall héreafter be admitted as 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

“Richmond College Old Boys Association” 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 alter the same at its pleasure.

2—D 036693—8,550 (95/07)

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

to foster better understanding between all past students, present students and teachers of the College ;

to form a link between all past students and the

to afford an opportunity to past students in making an effective contribution to the welfare and financial stability of the College ;

to assist the College to uphold the traditions of

to promote good relations and fellowship among the-past students ; and

to do all such other acts and things as are conducive or incidental to the attainment of all or any one of the objects of the Corporation.

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, 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 of the objects of the Corporation.

The affairs of the Corporation shall subject to the rules in force for the time being of the Corporation be administered by an Executive Committee elected in accordance with the rules of the Corporation.

The first Executive Committee of the Corporation shall be the Executive Committee of the Association holding office on the day preceding the date of commencement of this Act.

It shall be lawful for the Corporation from time to lime, at any general meeting of the Corporation, and by a majority of not less than two thirds of the members present and voting, to make rules not inconsistent with the provisions of this Act or any other written law, for the admission, withdrawal and expulsion of members of the Corporation, for the election of the office-bearers and the Executive

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

All debts and liabilities of the Association 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

Association on that day shall be paid to the Corporation for the purposes of this Act.

The Corporation shall be able and capable in law;to acquire and hold any property, movablé or immovable, which may become vested in it by virtue of any 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 in force for the time being of the Corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.

The seal of the Corporation shall not be affixed to any

Corporation.

instrument whatsoever, except in the presence of two members of the Executive Committee 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.

Nothing in this Act contained shall prejudice or affect rights of the the rights of the Republic or any body politic or corporate or

Republic and of any other persons, except such as are mentioned in this

Act, and those claiming, by, from, or under, them.

others.

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

inconsistency.