SERENDIB FOUNDATION (INCORPORATION) ACT

Arrangement of Sections

1. Short title.

2. Incorporation of the Serendib Foundation.

3. General objects of the Corporation.

4. Powers of the Corporation.

5. Corporation to be a nonprofit making organisation.

6. Corporation not to engage in politics.

7. Powers and management of the affairs of the Corporation.

8. Seal of the Corporation.

9. Corporation may hold property both movable and immovable.

10. Debts due and payable to the Foundation.

11. Rules of the Corporation.

12. Savings of the rights of the Republic and others.

13. Sinhala text to prevail in case of inconsistency.

SCHEDULE

12 of 1991.

AN ACT to incorporate the Serendib Foundation.

[Date of Commencement: 13th March, 1991]

1. Short title.

This Act may be cited as the Serendib Foundation (Incorporation) Act.

2. Incorporation of the Serendib Foundation.

From and after the date of commencement of this Act, such and so many persons as now are members of the Serendib Foundation (hereinafter referred to as "the Foundation.”) and shall hereafter be admitted members of the corporation hereby constituted, shall be and become a body corporate with perpetual succession under the style and name of the "Serendib Foundation” (hereinafter referred to as "the 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 change and alter the same at its will and pleasure.

3. General objects of the Corporation.

The general objects for which the Corporation is constituted are hereby declared to be—

(a) to foster and promote education by establishing and maintaining educational institutions and by founding scholarships;

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