4. Board of Directors of the Corporation
ප්රතිචාර සහ සහායනිල ඉංග්රීසි පරිවර්තනය. එය සිංහල හෝ දෙමළ පාඨයට වඩා වෙනස් නම් බලපවත්වන පාඨය කුමක්දැයි පනතේම සඳහන් වේ.
The management and administration of the affairs of the Corporation shall,subject to the rules in force for the time being of the corporation, be vested in a Board of
Directors (hereinafter referred to as the “Board”) consisting of not more than five members to be elected by the general body in accordance with the rules of the Corporation.
The Board may delegate any of its functions to an
Executive Council consisting of the President, Director-General, Secretary and Treasurer and not more than four other members of the Board, elected or appointed in accordance with the: rules, of the Corporation, and such Council shall discharge such functions in accordance with the directions of the Board.
Herath Foundation (Incorporation)
3
Act, No. 13 of 1998
The first Board of the Corporation shall be the Board of Directors of the Foundation consisting of the members whose names are specified in the schedule hereto and holding office on the day immediately preceding the date of commencement of this Act.
The powers, functions and duties of the Board.
§.
Subject to the provisions of this Act and any other written law, the Board shall in the name of the Corporation have the power to do all such acts and things whatsoever as are necessary for, or conductive or incidental to, the carrying out of the objects of the Corporation.
Without prejudice to the generality of the powers conferred by subsection (1), the Board may exercise and discharge the following powers and functions:—
{a) to acquire and hold any property, movable or immovable, which may become vested in the corporation by virtue of any purchase, grant, gift, request or otherwise;
to sell, mortgage, lease or grant, convey, exchange or otherwise dispose any such property ;
toinvest moneys belonging to the Corporation in such securities as may be determined by the Board ;
(d} to open, operate and close bank a::counts and to borrow or raise money with or without the property of the
Corporation as security, for the purposes of the
Corporation ;
to raise and receive funds, locally and from abroad, and to receive grants, gifts or donations in cash or in kind ; and
(fj to employ such officers and servants as may be necessary for carrying out the objects of the
Corporation.
The moneys and property of the Corporation whensoever derived, shall be applied solely towards the promotion of its objects as set forth herein, and no portion thereof shall be paid or transferred, directly or indirectly, by way of dividend, loan, bonus, profit or otherwise howsoever to the members of the Corporation :
Provided however, that the provisions of this section shall hot apply in the case of—
the payment in good faith of reasonable and proper remuneration to any officer or servant of the
Corporation or to any member of the Corporation, for any services rendered by him to the Corporation ;
the payment of reasonable and proper rent for premises let to the Corporation by any member of the
Corporation or by any company of which a member of the Corporation is a shareholder ; and
the re-imbursement or repayment of reasonable and proper expenses incurred with the prior approval of the Board by any member, officer or employee of the
Corporation, in the discharge or performance of his functions or duties or in promoting the objects of the
Corporation.