Volume VII
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Arrangement of Sections

1. Short title.

2. Incorporation of the Sri Lanka Institute of Marketing.

3. General objects of the Corporation.

4. Functions of the Corporation.

5. General powers of the Corporation.

6. Executive Committee.

7. Rules of the Corporation.

8. Debts due by and payable to the Institute.

9. Power of Corporation to hold property.

10. Seal of the Corporation.

11. Limitation of liability of members.

12. Property remaining on dissolution.

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

41 of 1980.

AN ACT to incorporate the Sri Lanka Institute of Marketing.

[Date of Commencement: 15th October, 1980]

1. Short title.

This Act may be cited as the Sri Lanka Institute of Marketing (Incorporation) Act.

2. Incorporation of the Sri Lanka Institute of Marketing.

From and after the date of commencement of this Act, such and so many persons as now are members of the Sri Lanka Institute of Marketing (hereinafter referred to as "the Institute”), or shall hereafter be admitted members of the Corporation hereby constituted, shall be a body corporate (hereinafter referred to as "the Corporation”) with perpetual succession under the style and name of "The Sri Lanka Institute of Marketing”, and by that name shall and 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 foster the development, growth and wider acceptance of Marketing as a part of management in Sri Lanka;

(b) to provide a professional forum for its membership;

(c) to contribute, within the area of its professional competence, to the economic growth of the country;

(d) to advise and assist on the formation, implementation, and appraisal of national policies on any matters connected with Marketing both in Sri Lanka and abroad;

(e) to suggest and promote legislative action in the sphere of Marketing to serve the best interests of the country; and

(f) to promote, maintain, and uphold professional and ethical principles and standards in the practice of Marketing in Sri Lanka;

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