ACT, No. 24 OF 2011

24of2011.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
SRI LANKA SAMATA SETHA FOUNDATION
(INCORPORATION) ACT, No. 24 OF 2011
[Certified on 06th April, 2011]
Printed on the Order of Government
Published as a Supplement to Part II of the Gazette of the Democratic
Socialist Republic of Sri Lanka of April 08, 2011
PRINTEDAT THEDEPARTMENT OFGOVERNMENTPRINTING,SRILANKA
TO BEPURCHASED AT THEGOVERNMENT PUBLICATIONSBUREAU, COLOMBO 5
Price : Rs. 5.00 Postage : Rs. 10.00

Sri Lanka Samata Setha Foundation 1
(Incorporation) Act, No. 24 of 2011
[Certified on 06th April, 2011]
L.D. — O. Inc. 17/2009.
ANACT TO INCORPORATE THE SRI LANKA SAMATA SETHA
FOUNDATION
WHEREAS a Foundation called and known as the Preamble.
“Sri Lanka Samata Setha Foundation” has heretofore been
established in Sri Lanka for the purpose of effectually
carrying out and transacting all objects and matters
connected with the said Foundation according to the rules
agreed to by its members :
AND WHEREAS the said Foundation has heretofore
successfully carried out and transacted the several objects
and matters for which it was established and has applied to
be incorporated and it will be for the public advantage to
grant the application:
BE it therefore enacted by the Parliament of the Democratic
Socialist Republic of Sri Lanka as follows:—
1. This Act may be cited as the Sri Lanka Samata Setha Short title.
Foundation (Incorporation) Act, No. 24 of 2011.
2. From and after the date of commencement of this Incorporation of
Act, such and so many persons as now are members of the the Sri Lanka
Samata Setha
“Sri Lanka Samata Setha Foundation” (hereinafter referred
Foundation.
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 “Sri
Lanka Samata Setha Foundation” and by that name may sue
and be sued with full power and authority to have and use a
common seal and alter the same at its pleasure.
3. (1) The general objects for which the Corporation is General objects
constituted are hereby declared to be :— of the
Corporation.
(a) to improve the economic standards of the poor
families living in the area and to alleviate poverty
of such families by improving financial standards;
2—PL 004996— 3,070 (07/2010)
2 Sri Lanka Samata Setha Foundation
(Incorporation) Act, No. 24 of 2011
(b) to collaborate with the Government activities to
improve and maintain higher standards of education
of poor families;
(c) to support the activities aimed at protection of the
environment within the area ;
(d) to support the activities relating to nutritional
rehabilitation and to improve the nutritional level
of the poor and destitute within the area;
(e) to join in collaborative activities with other
organizations, religious and cultural institutions
which the Foundation deems necessary to corporate
with;
(f) to assist in the provision of books, instruments,
clothing, loans and other financial assistance to
children in lower income families who require
assistance;
(g) to establish a fund and utilize same in order to
achieve the above mentioned objectives.
(2) In the implementation of the above objectives the
Corporation shall ensure that such implementation is carried
out without any distinction based on race, caste, religion,
language, sex or political opinion.
(3) For the purposes of this section, “area ” means the
geographical area within which the office of the Sri Lanka
Samata Setha Foundaion is established.
Powers of the 4. Subject to the provisions of this Act, and any other
Corporation. written law, the Corporation shall have the power to:—
(a) acquire, hold or take any immovable property for
the Corporation or give on lease, hire, mortgage,
pledge, sell, exchange or otherwise alienate,
encumber or dispose of any immovable property of
the Corporation;
Sri Lanka Samata Setha Foundation 3
(Incorporation) Act, No. 24 of 2011
(b) enter into, perform or carry out whether directly or
through any officer or agent authorized in that behalf
by the Corporation, all such contracts or agreements
as may be necessary for the attainment of the objects
or the exercise of the Corporation;
(c) accept gifts, donations and bequests in cash or in
kind;
(d) advance or lend and to borrow money for the
purposes of the Corporation in such a manner
and upon such security as the Corporation may
think fit;
(e) invest its funds, create and administer Trusts and to
maintain current, and savings accounts in any bank;
(f) publish or cause to be published books, journals,
magazines and other literature and establish
and maintain libraries, book shops and priniting
presses;
(g) appoint, employ, transfer, exercise disciplinary
control over officers and servants required for the
carrying out of the objects of the Corporation and
to prescribe their terms and conditions of service
and dismiss such officer; and
(h) generally do all such other acts and things as are
necessary for and incidental or conducive to the
carrying out of the objects of the Corporation.
5. (1) The manegement of the affairs of the Corporation Management of
shall, subject to the rules of the Corporation, made under the affairs of the
Corporation.
section 6 of this Act be administered by a Board of
Management (hereinafter referred to as “the Board”)
consisting of office-bearers and such number of members as
may be provided for in such rules and elected in accordance
therewith.
4 Sri Lanka Samata Setha Foundation
(Incorporation) Act, No. 24 of 2011
(2) The first Board of the Corporation shall be the Board
of Management of the Foundation holding office on the day
preceding the date of commencement of this Act.
Rules of the 6. (1) It shall be lawful for the Corporation, from time to
Corporation. time, at any general meeting and by a majority of not less
than two-third of the members present and voting to make
rules not inconsistent with the provisions of this Act, or any
other written law, for all or any of the following matters:—
(a) admission, withdrawal or expulsion of members;
(b) the election of the office-bearers, the resignation
from, or vacation of or removal from, office of, office
bearers and their powers, conduct and duties;
(c) the election of the members of the Board and its
powers, conduct and duties and the terms of office
of the members of the Board and the filling of
vacancies of the members of the Board;
(d) the powers, conduct, duties and functions of the
various officers,agents and servants of the
Corporation;
(e) the procedure to be observed for the summoning
and holding of meetings of the Board, the times,
places, notices and agenda of such meetings, the
quorum therefore and the conduct of business
thereat;
(f) the administration and management of the property
of the Corporation; and
(g) generally, for the management of the affairs of the
Corporation and the accomplishment of its objects.
(2) Any rule made by the Corporation may be amended,
altered, added to or rescinded in like manner as a rule made
under subsection (1).
Sri Lanka Samata Setha Foundation 5
(Incorporation) Act, No. 24 of 2011
(3) The members of the Corporation shall be subject to
the rules of the Corporation made under section 6.
7. The Seal of the Corporation shall not be affixed to Seal of the
Corporation.
any instrument whatsoever, except in the presence of the
Chairman and either the Secretary or the Treasurer who shall
sign their names to the instrument in token of their presence
and such signing shall be independent of the signing of any
person as a witness.
8. All debts and liabilities of the Foundation existing Debts due by
on the day preceding the date of commencement of this Act and payable to
the Foundation.
shall be paid to the Corporation hereby constituted and all
debts due to subscriptions and contributions payable to the
Foundation on that day shall be paid to the Corporation for
the purposes of this Act.
9. (1) The Corporation shall have its own fund and all Fund of the
Corporation.
moneys heretofore or hereafter received by way of gift,
bequest, donations, subscription, contribution, fees or grants
for and on account of the Corporation shall be deposited to
the credit of the Corporation in one or more banks as the
Board shall determine.
(2) There shall be paid out of the fund, all sums of money
required to defray any expenditure incurred by the
Corporation in the exercise, performance and discharge of
its powes, duties and functions under this Act.
10. (1) The financial year of the Corporation shall be Audit and
Accounts.
the calendar year.
(2) The Corporation shall cause proper accounts to be
kept of its income and expenditure, assets and liabilities and
all other transactions of the Corporation.
(3) The accounts of the Corporation shall be audited by a
qualified Auditor.
6 Sri Lanka Samata Setha Foundation
(Incorporation) Act, No. 24 of 2011
(4) In this section “qualified Auditor ” means —
(a) an individual who being a member of the Institute
of Chartered Accountants of Sri Lanka or of any
other institute established by law, possesses a
certificate to practice as an Accountant issued by
such institute ; or
(b) a firm of Accountants each of the resident partners
of which being a member of the Institute of
Chartered Accountants of Sri Lanka or of any other
institute established by law, possesses a certificate
to practice as an Accountant issued by such
institutes.
Property 11. If upon the dissolution of the Corporation, there
remaining on remains after the satisfaction of all its debts and liabilities,
dissolution.
any property whatsoever, such property shall not be
distributed among the members of the Corporation, but shall
be given or transferred to some other Institute or Institutes
having objects similar to those of the Corporation and which
is or are by the rules thereof prohibited from distributing any
income or property among its or their members. Such Institute
or Institutes shall be determined by the members of the
Corporation at or immediately before the dissolution of the
Corporation.
Saving of the 12. Nothing contained in this Act shall prejudice or
rights of the affect the rights of the Republic or of any body politic or
Republic and
corporate.
others.
Sinhala text 13. In the event of any inconsistency between the Sinhala
to prevail in and Tamil texts of this Act, the Sinhala text shall prevail.
case of
inconsistency.

Sri Lanka Samata Setha Foundation 7
(Incorporation) Act, No. 24 of 2011
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(Foreign), Payable to the SUPERINTENDENT, GOVERNMENT PUBLICATIONS BUREAU, DEPARTMENT OF
GOVERNMENT INFORMATION, NO. 163, KIRULAPONA MAWATHA, POLHENGODA, COLOMBO 05 before 15th
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