Volume V
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Arrangement of Sections

1. Short title.

2. Incorporation of the Mahara Social Development Foundation.

3. General objects of the Corporation.

4. Management of the affairs of the Corporation.

5. Register of members.

6. Power of the Corporation to acquire property invest funds and raise loans.

7. Rules of the Corporation.

8. Fund of the Corporation.

9. Accounts.

10. Debts due by and payable to the Foundation.

11. Corporation may hold property movable and immovable.

12. Seal of the Corporation.

13. Limitation of liability of members.

14. Property remaining on dissolution.

15. Savings of the rights of the others.

16. Sinhala text to prevail in case of consistency.

48 of 2000.

AN ACT to incorporate the Mahara Social Development Foundation.

[Date of Commencement: 18th August, 2000]

1. Short title.

This act may be cited as the Mahara Social Development Foundation (Incorporation) Act.

2. Incorporation of the Mahara Social Development Foundation.

From and after the date of commencement of this Act, such and so many persons as now are members of the Mahara Social Development Foundation (hereinafter referred to as "the Foundation”) or shall hereafter be admitted as 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 "Mahara Social 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 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 initiate and carry out community welfare, cultural and social development projects in Sri Lanka;

(b) to undertake the implementation of development programmes such as road development and housing schemes, the construction and maintenance of hospitals, schools and other educational centers and community centres;

(c) to afford children in indegent circumstances, opportunities to enter upon, or to be engaged in, a trade, occupation or service and to provide them with financial and other necessary assistance;

(d) to promote mutual understanding and co-operation among people, irrespective of race and religion;

(e) to provide bursaries, scholarships, prizes, donations, financial and other necessary assistance, with a view to the advancement, dissemination and propagation of education and knowledge, and for the establishment of schools, libraries and cultural centers;

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