Thaliyawaka Ananda Bodhi Cultural Foundation (Incorporation) Act 2009

This Act may be cited as the Thaliyawaka

Ananda Bodhi Cultural Foundation (Incorporation)

Act, No. 63 of 2009.

From and after the date of commencement of this Act, such and so many persons as presently are members of the “Thaliyawaka Sri Ananda Bodhi Cultural

Foundation” (hereinafter referred to as the “Foundation”)

and shall hereafter 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 “Thaliyawaka Ananda

Bodhi Cultural Foundation” and by that name may sue and be sued with full power and authority to have and to 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 give assistance and aid in every respect for the conservation and development of historical places of Buddhist religious importance and all the relevant ancient artifacts declared by or under law made by Parliament to be of national importance;

to implement environmental friendly programmes for and to implement training programmes to raise awareness among the adherents of the Buddhist faith regarding the need to protect natural resources declared by or under law made by Parliament to be of national importance;

to render assistance to economically disadvantaged farmer families who are adherents of the Buddhist faith in relation to the obatining of housing facilities;

to supply materials needed for the restoration of Pre-Schools establishd for adherents of the

to establish Vocational Training Centres for the benefit of the unemployed youth among adherents of the Buddhist faith;

to develop religious centers in villages where people of low income groups who are adherents of the Buddhist faith are in the majority and to assist in promoting religious education among adherents of the Buddhist faith;

to implement community programmes for adherents of the Buddhist faith for the protection of forest resources, to give assistance for community

to render assistance to promote local agriculture and for restoring tanks and anicuts needed for agricultural purposes declared by or under law made by Parliament to be of national importance.

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

to acquire and hold, purchase, rent, construct and otherwise obtain lands or buildings which may be required for the purposes of the Corporation;

to borrow or raise money from Government approved Banks and other institutions (foreign and local) for the purposes of the Corporation with the approval of the Executive Committee;

to make, draw, accept, discount, endorse, negotiate, buy, sell and issue bills of exchange, cheques, promissory notes and other negotiable instruments and to open, operate, maintain and close bank accounts;

to invest any funds not immediately required for the purposes of the Corporation, in such manner as the

to solicit and receive subscriptions, grants, donations and gifts of all kinds;

to enter into agreements or contracts with any person, company or body of persons;

to undertake, accept, execute, perform and administer any lawful trusts and conditions affecting any real or personal property acquired or in the possession of the Corporation;

to appoint, employ, dismiss or terminate the services of officers and servants of the Corporation and to pay them such salaries, allowances and gratuities as may be determined by the Corporation;

to train personnel in Sri Lanka or abroad for the purpose of the Corporation; and

to do all other things necessary or expedient for the proper and effective carrying out of the objects of the Corporation.

The affairs of the Corporation shall subject to the rules of the Corporation made under section 8 for the time being of the Corporation be administered by an

The first Executive Committee of the Corporation shall consist of the members of the Executive Committee of the Foundation holding office on the day immediately preceding the date of commencement of this Act.

The income and property of the Corporation shall be applied solely towards the promotion of the objectives set forth herein and no portion thereof shall be paid or transferrd, directly or indirectly by way of dividend, loan, bonus, profit or otherwise to the members of the Corporation.

The Corporation shall have its own fund and all moneys received by way of donation, testamentary disposition, transfer, contributions or fees shall be deposited in the name of the Corporation in one or more Banks as the

The Executive Committee may create any depreciation fund, reserve or sinking fund for the rehabilitation, improvement and development of the property of the Corporation.

There shall be paid out of the fund, all such sums of money as may be incurred as expenditure by the Corporation in the exercise, performance and discharge of its powers, duties and functions under this Act.

It shall be lawful for the Corporation from time to time at any 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 following matters:—

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).

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

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 Corporation.

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

In this section “qualified auditor” means—

The Corporation may hold property movable or immovable

The Corporation shall be able and capable in law, to acquire and hold any property movable or immovable which may become vested in it by virtue of purchase, grant, gift, testamentary disposition or otherwise, and all such property

Thaliyawaka Ananda Bodhi Cultural 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, it shall have full power to sell, mortgage, lease, exchange or otherwise dispose of the same.

The Corporation shall be a non-profit organization and no part of the gains, profit or dividends, if any, of the

Corporation shall be distributed among the members of the

Corporation.

All debts and liabilities of the Foundation existing on the day immediately 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 Foundation on that day shall be paid to the Corporation for the purposes of this Act.

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 members as membership fees.

The seal of the Corporation shall be in the custody of such person as may be determined by the Executive

Committee and it shall not be affixed to any instrument whatsoever except in the presence of the President and another member of the Executive Committee 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.

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 institution or institutions having objects similar to those of the Corporation and which is or are by the rules thereof prohibited from distributing any income or property among its or their members. Such institution or institutions shall be determined by the Committee of Management at or immediately before, the dissolution of the Corporate.

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

Corporation.

In the event of any inconsistency between the

Sinhala and the Tamil texts of this Act, the Sinhala text shall prevail.

Thaliyawaka Ananda Bodhi Cultural