Sri Lanka Economic Association (Incorporation) Act

Arrangement of Sections

1. Short title.

2. Incorporation of the Sri Lanka Economic Association.

3. General objects of the Corporation.

4. Powers of the Corporation.

5. Management of the affairs of the Corporation.

6. Rules of the Corporation

7. Vesting of the property etc., of the Association in the Corporation.

8. Fund of the Corporation.

9. Accounts and Audit.

10. Debts due and payable to the Association.

11. Property remaining on dissolution.

12. Seal of the Corporation.

13. Limitation of liability of members.

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

15. Sinhala text to prevail in case of inconsistency.

33 of 2011.

AN ACT to incorporate the Sri Lanka Economic Association.

[Date of Commencement: 19th May, 2011]

1. Short title.

This Act may be cited as the Sri Lanka Economic Association (Incorporation) Act.

2. Incorporation of the Sri Lanka Economic Association.

From and after the date of commencement of this Act, such and so many persons as now are members of the Sri Lanka Economic Association (hereinafter referred to as "the Association”) and such other persons shall hereafter be admitted as members of the Corporation hereby constituted, shall be a body corporate with perpetual succession under the name and style of the ”Sri Lanka Economic Association” (hereinafter referred to as "the Corporation”) and by that name may sue and be sued with full power and authority to have and to use a common seal and alter the same at its pleasure.

3. General objects of the Corporation.

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

(a) to undertake, promote and facilitate studies in the field of Economics within and outside Sri Lanka;

(b) to organise and promote research in the field of Economics and undertake studies and research projects on contract from government, private and international agencies or institutions;

(c) to plan and organise teaching and training programmes in the field of Economics;

(d) to train students and others in research methodology with the idea of promoting knowledge and awareness in subjects relevant to economics;

(e) to assist in the formulation of effective socio-economic policies;

(f) to prepare and submit reports on issues relating to economic and social development or to prepare reports on studies relating to economic development;

(g) to promote understanding, co-operation and friendship with similar associations within and outside Sri Lanka; and

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