SARVODAYA TRUST FUND FOR THE ADVANCEMENT OF HUMANITY, DEVELOPMENT AND PEACE
(INCORPORATION) ACT

Arrangement of Sections

1. Short title.

2. Incorporation of the Sarvodaya Trust Fund for the Advancement of Humanity, Development and Peace.

3. Board of Trustees of the Fund.

4. Seal of the Fund.

5. Objects of the Fund.

6. Selection Committees.

7. Award of prizes.

8. Powers and functions of the Board.

9. Payments into the Fund.

10. Payments out of the Fund.

11. Accounts and audit.

12. Power to make rules.

13. Saving of the rights of the Republic and others.

14. Interpretation.

SCHEDULE

31 of 1984.

AN ACT to incorporate the Sarvodaya Trust Fund for the Advancement of Humanity, Development and Peace.

[Date of Commencement: 25th July, 1984]

1. Short title.

This Act may be cited as the Sarvodaya Trust Fund for the Advancement of Humanity, Development and Peace (Incorporation) Act.

2. Incorporation of the Sarvodaya Trust Fund for the Advancement of Humanity, Development and Peace.

(1) From and after the date of commencement of this Act, the Sarvodaya Trust Fund for the Advancement of Humanity, Development and Peace shall be a body corporate under the name and style of the "Sarvodaya Trust Fund for the Advancement of Humanity, Development and Peace” (hereinafter referred to as "the Fund”).

(2) The Fund shall, in the name assigned to it by subsection (1) and for the purposes herein mentioned, have perpetual succession, and may by the said name sue and be sued in all courts, and shall have a common seal with power to alter the same at its discretion.

3. Board of Trustees of the Fund.

(1) The administration, management and control of the Fund shall be vested in a Board of Trustees as hereinafter provided.

(2) The Board of Trustees of the Fund (hereinafter referred to as "the Board”) shall consist of the following members appointed for life—

1. Dr Ahangamage Tudor Ariyaratne.

2. Mr Malliya Wadu Karunananda.

3. Mr Beragama Arachchige Dharma Gunasinghe.

4. Mrs Sita Virginia Rajasuriya.

5. Mr William Kandage.

6. Prof Nandasena Ratnapala.

7. Dr Pelenege Amarasinghe.

8. Mr Sathis de Mel.

9. Mr Malwattage Edmund Walter Peeris.

(3) The Founder shall be the Chairman of the Board and shall preside at all meetings of the Board. In the absence of the Chairman from any meeting, the members present at such meeting shall elect from among themselves a Chairman for that meeting.

(4) The Board shall elect from among themselves a Secretary to the Board. It shall be the duty of the Secretary to send out notices of meetings, maintain a minute book in which he shall record all proceedings of meetings of the Board and discharge the functions and perform the duties as are delegated to him by the Board from time to time.

(5) A person shall be disqualified from being appointed or continuing in office as a member of the Board if he—

(a) is a person who, having being declared an insolvent or bankrupt under any law in force in Sri Lanka or in any other country, is an undischarged insolvent or bankrupt;

(b) is convicted of an offence involving moral turpitude;

(c) is under any law in force in Sri Lanka found or declared to be of unsound mind or mentally deficient; or

(d) neglects to act as a Trustee.

(6) Where the Founder dies he shall be succeeded by his next or nearest of kin of the family.

(7) Where any member of the Board, other than the Founder, is absent from Sri Lanka for a continuous period exceeding six months, the Founder may in writing appoint another person in place of such member, until such member returns to Sri Lanka.

(8) Where a member of the Board, other than the Founder, dies or resigns or ceases to be a member of the Board in terms of subsection (5), the Founder shall in writing appoint another person in place of the member who dies or resigns or ceases to be a, member.

(9) The members of the Board shall endeavour to arrive at unanimous decisions on all matters connected with the activities of the Board. But in the event of any difference of opinion among the members of the Board, the decision of the majority shall be binding and effectual.

(10) The Board shall meet at least once in every three months and the quorum of any such meeting shall be five members.

(11) No act or proceeding of the Board shall be deemed to be invalid by reason only of the existence of any vacancy amongst its members.

(12) The members of the Board shall not be entitled to receive any remuneration by way of salary, allowance or honorarium, but may be reimbursed for actual out of pocket expenses incurred by them in the performance of their duties.

4. Seal of the Fund.

The seal of the Fund shall be in the custody of the Secretary and may be altered in such manner as may be determined by the Board. The seal shall not be affixed to any instrument except with the sanction of the Board and in the presence of two members of the Board who shall sign the instrument in token of their presence. Such signing shall be independent of the signing of any person as a witness.

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