Untitled Document

AN ACT TO INCORPORATE THE MATARA RAHULA COLLEGE

PAST STUDENTS ASSOCIATION

( COLOMBO BRANCH)

Preamble.	WHEREAS an association called and known as “THE MATARA RAHULA COLLEGE Past Students Association (Colombo Branch) has heretofore been formed in Colombo for the purpose of effectually carrying out and transacting all objects and matters connected with the said association according to the rules agreed to by the members;

	AND WHEREAS the said association has heretofore successfully carried out and transacted the several objects and matters for which it was formed and has applied to be incorporated, and it will be for the public advantage to grant such application:

	BE it therefore enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows:-

Short title.	1. This act may be cited as the Matara Rahula College Past Students Association (Colombo Branch) (Incorporation) Act No. of 2006.

Incorporation of the Matara Rahula College Past Students Association (Colombo Branch)	2. From and after the date of commencement of this Act, such and so many persons as now are members of the Matara Rahula College Past Students Association (Colombo Branch) (hereinafter referred to as (“Association”) or shall hereafter be admitted members of the corporation hereby constituted shall be a body corporate with perpetual succession, under the name and the style of the “Matara Rahula College Past Students Association (Colombo Branch)” (hereinafter referred to as “Corporation”) 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 to alter the same at its pleasure.

General objects of the Corporation.	3. The General objects for which the Corporation is constituted are hereby declared to be-

	(a) to promote educational cultural and social activities among past pupils , present pupils, present teachers and former teachers of Rahula College .

	(b) to preserve the natural resourses and create infrastructure facilities and develop and maintain same for the well being of the students of Rahula College and the People of Ruhuna;

	(c) to promote welfare, Cultural social development activities among students and teachers so as to improve cordial relationship between the two groups;

	(d) to establish the Rahula scholarships Trust for award of scholarships prizes and other grants;

	(e) to establish libraries, research and training centers and maintain same;

	(f) for the purpose of Vocational training to students maintain cordial relationships with foreign and local non governmental organizations.

	(g) to provide welfare facilities and medical clinic to treat disabled persons;

	(h) to commence projects which generate income to be used for the activities of the Corporation.


General Powers of the Corporation	4. 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 whatsoever 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.

Management of the affairsof the Corporation.	5. (1) 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.
	(2) The first Executive Committee of the Corporation shall be the members of the Board of Management of the Association holding office on the day preceding the date of commencement of this Act.

Corporation may hold property movable or immovable	6. The Corporation shall be able and capable in law to take over, acquire and hold, and property, movable or immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary deposition or otherwise, and all such property shall be held by the Corporation for the purpose of this Act and, subject to the rules of the Corporation, it shall have power to sell, mortgage, lease, exchange or otherwise dispose of the same.

Rules of the Corporation	7. (1) It shall be lawful for the Corporation, from time to time, at any general meeting and by a majority of not less than two-third of the members present and voting, to make rules, not inconsistent with the provisions of this act or any other written law, for all or any of the following matters:-

	(a). classification of membership, fees payable by such class of members and their admission, withdrawal or expulsion or resignation;

	(b).the election of members of the Executive Committee and the office-bearers, resignation or removal from, or vacation of, office of, members of the Executive Committee powers, duties and conduct of the members of the Executive Committee, the appointment, powers, duties, functions and conduct of the various officers, agents and servants of the Corporation;

	(c). the procedure to be observed at, and the summoning and holding of meetings of the Executive Committee and the Corporation, filling vacancies, notices and agenda of such meetings the quorum therefore and the conduct of business thereat;

	(d). All Island Language Training Programme for Public Servants.

	(e). The administration and management of the property of the Corporation: and

	(f). generally for the management of the affairs of the Corporation and the accomplishment of its objects and the dissolution of the Corporation.

	(2) any rule made by the Corporation may be amended, altered, or rescinded at a like meeting and in a like manner as a rule made under subsection

	(3) The members of the Corporation shall be subject to the rules of the Corporation.

Fund of the Corporation	8. (1) The Corporation shall have its own fund and all moneys received by way of testamentary dispositions, transfers, donations, contributions or fees shall be deposited to the credit of the Corporation in one or more Banks as the Executive Committee shall determine.

	(2) There shall be paid out of the fund all sums of money required to defray any expenditure incurred by the Corporation in the exercise, performance and discharge of its powers, duties and functions under this act.

	(3) The moneys of the Corporation shall be applied solely towards the promotion of the objects as set forth herein and no portion thereof shall be paid or transferred directly or indirectly by way of dividend, bonus or otherwise howsoever to the members of the Corporation.

Accounts ofthe Corporation.	9. The Executive Committee of the Corporation shall cause to be kept proper books of account with respect to all sums of money received and expended by the Corporation.

Audit andaccounts.	10. (a) The financial year of the Corporation shall be the calendar year.

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

	(c) The accounts of the Corporation shall be audited by a qualified auditor

	In this section, “qualified auditor” means –

	(i). an individual who being a member of the institute of Charted Accountants of Sri Lanka, or of any other institute established by law, possesses a certificate to practice as an Accountant issued by the Council of such institute; or

	(ii). a firm of Accountants each of the resident partners of which, being a member of the institute of Chartered Accountants of Sri Lanka or of any other institute established by law, posses a certificate to practice as an Accountant issued by the Council of such institute.


Seal of theCorporation	11. The seal of the Corporation shall not be affixed to any instrument except in the presence of the President and either the Secretary or the Treasurer 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.


Debts due by and payable tothe institution	12. All debts and liabilities of the institute 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 and subscriptions and contributions payable to the Institute on that day shall be paid to the Corporation for the purposes of this Act.


Limitation of liability of members.	13. 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.


Savings of the Rights of the Republic	14. Nothing in this Act contained shall prejudice or affect the rights of the republic or of any body politic or corporate or of any other person, except such as are mentioned in this Act and those claming by, from or under them.


Indemnity for acts done in good faith	15. No person shall be liable in any suit or other legal proceding 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 of provisions of this Act.


Sinhala text to prevail in case of inconsistency	16. In the event of any inconsistency between Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.