Rathgama Development Foundation (Incorporation) Act 1992

This Act may be cited as the Rathgama Development

Foundation (Incorporation) Act, No. 70 of 1992.

From and after the date of commencement of this

Act, such and so many persons as now are members of the

Rathgama Development Foundation (hereinafter referred to as “ the Foundation”) or shall hereafter be admitted 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 Rathgama Development

Foundation ”, and by that name may sue and be sued ‘in all courts, with full power and authority to have, and use a common sea! and alter the same at its pleasure.

The general objects for which the Corporation is cons-tituted are hereby declared to be—

to promote and engage in the implementation of community welfare, cultural and social develop-ment projects int the island

to undertake, the execution of road development and housing schemes the construction and improve-ment of hospitals, educational centres, schools, community centres and such other works and activities as ray contribute to ine development of the island ;

to afford chiluren in indigent circumstances an oppor-tunity to prepare for, to enter upon, or to be engage-ed in a trade, occupation or services and to provide theni with outfits, instruction fees or other aminities

to provide bursaries, scholarships, prizes, donations, financial aid and assistance in other forms for the advancement, dissemination and propagation of education and knowledge, and for the establishznent of schools, libraries and cultural centres

to engage in any industry or trade or in any export or import business and to aid and assist persons to commence and operate agricultural, industrial and comunercial ventures and particularly such indus-tries as fisheries, the export of fibre, white fibre and fiber products end to undertake training progra-mmes, and extension services and to organise propaganda activities, relating to the transfer of technology ;

to collaborate or participate, with any other institu-tion or organisation, whether foreign or local, having objects similar to those of the Corporation ;

te sponser and conduct conferences, seminars, work-shops, group studies and lectures in Sri Lanka and elsewhere in furtherance of the objects of the

The maragement, control and administration of the Corporation shall, subject to the rules of the Corpora-tion, vest in a governing Council (hereinafter referred to as “the Council”) consisting of such number of governors elected from among the mernbers in accordance with the rules of the Corporation,

The first Council of the Corporation shall be the governing council of the Foundation holding office or the dav preceding the date of commencement of this Act, and consisting of the members whose names are specified in the

Notwithstanding anything to the contrary in sub-section (1), Mr. Rannula ‘Nandimittha G. de Zoysa, who shall be the Chairman of the Corporation for life, unless he earlier resigns from the said office.

The Council shall cause to be kept a register of members in which every person who on the day preceding the date of commencement of this Act is a member of the

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

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

to borrow or raise money for the purposes of th Cor-poration ;

to make. draw, accept, discount, endorse, negotiate, buy, sell and issue bills of exchange, cheques, pro-missory 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 per-son, company or bedy of persons ;

to undertake, accept, execute, perform and adminis-ter any lawful trusts and conditions affecting any real or personal property

to appoint, empioy, 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.

It shall be lawful for the Corporation, from time to time, at any general meeting 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

The rules of the Foundation in force on the day prece-ding the date of commencement of this Act shall, in so far as they are not inconsistant with the provisions of this Act or other written law be deemed to be the rules of the Corpo-ration and may be amended, altered, added to, or rescinded at a like meeting and in like manner as a rule made under sub-section (1) of this section.

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

The Corporation shall have its own fund and all moneys received by way of gift, bequest, donation, subs-cription, contribution, fees or grants for and on account of the Corporation shall be deposited to the credit of the

There shall be paid out of the fund all sums of money to defray any expenditure incurred by the Corpora-tion in the exercise, performance and discharge of its powers, duties and functions under this Act.

the Council shall cause proper accounts to be kept of all the moneys received and expended by the

The accounts of the Corporation shall be examined and audited at least once in every year.

All debts and liabilities of the Foundation exis-ting on the day preceding the date of commencement of this Act, shall be paid and discharged by the Corporation

The Corporation shall be able and capable in law te acquire and hold any property, movable cr immovable, upon or by virtue of any instrument of purchase, grant, gift or lease, or upon or by virtue of any 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 for the time being of the Corporation, or otherwise for the purposes of and upon the trustsin and subject to the conditions in the relative instrument of dispositior with full power (subject always to the provisions of any written law relating to trusts and of the relative instrument or disposition) to sell, mortgage, lease, exchange or otherwise dispose of, encumber or charge the same.

The seal cf the Corporation shall not be affixed to any instrument whatsoever except in the presence of a member of the Council and the secretary or such other person duly authorised by the Council 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.

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 of such membership fees as may be due from him to the Corporation.

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 dis-tributed among the members of the Corporation, but shal!

be given or transferred to some other institution or institutions having objects similar to those of the Corpora-tion, and which is or are by the rules prohibited from distributing any income or property among its or their members:

Rathgama Development Foundation (Incorporation)

7

Act, Ne. 70 of 1992

{5. Nothing in this Act contained shall prejudice or affect the rights of the Republic, or any body politie or corporate, or of any other persons, except such as are mentioned in this Act, and those claiming by, from, or under them.

In the event of any inconsistency between the

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

SouwEDULE

[Section 4]

J. Rannula Nandimitiha G. De Zoysa, to

. Suroopi Resanjala Abeygunawardene,

3. Rajapaksa Mehapatirannelage Gaminij Dharmakeerthi,

4. Aganpodi Gunasiri de Zoysa Jayatilake,

- Manaikkuwadura Jinasena de Zoysa, an a

. Dionasius Hiran Indrajith de Costa,

7, Weerakkody Maduralal Mendis, to prevail in case of inconsistency.

Annual gubscription of English Bills and Acts oi ihe Parliament Rs. 85 (Local), fs. 1,180 (Foreign), payable to the SupERINTENDENT GOVERNMENT PUBLICATIONS

TurEAU, No. 255 Bauddhaloka Mawatha Colombo 7, before 15th December each year in respect of the year following.

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