Lions Clubs International District 306A – National Development Foundation Trust (Incorporation)

(1) From and after the date of commencement of this Act, there shall be established a Trust to be called the Lions Clubs International District 306A National Development Foundation Trust (hereinafter referred to as the Trust).

(2) The Trust shall, by the name assigned to it by subsection (1) be a body corporate and shall have perpetual succession and a common seal and may sue and be sued in such name.

(1) The administration, management and control or the Trust shall be vested in a Board of Trustees constituted as hereinafter provided.

(2) The Board of Trustees of the Trust (hereinafter referred to as the Board) shall consist of the following members:-

(i) to provide facilities and assistance for the development of backward villages;

(ii) to provide facilities and assistance for the construction and rebuilding of houses;

(iii) to provide financial and other assistance to Lions Clubs registered with the Department of Social Services and other organizations approved by the Department of social services that undertake projects connected with the national development of the country; and

(iv) to provide financial and other assistance for the rehabilitation of the mentally or physically handicapped known to the Department of Social Services.

(a) receive grants, gifts or donation in cash or kind whether from local or foreign sources with the approval of the Department of External Resources;

(b) acquire in any manner whatsoever and hold, take or give on lease or, hire, mortgage , pledge sell or otherwise dispose of, any movable or immovable property;

(c) give grants, endowments or loans for the furtherance of the objects of the Trust with the approval of the Department of Social Services;

(d) appoint, employ, remunerate and exercise disciplinary control over its officers and servants;

(e) open, operate and close bank accounts, and borrow or raise money, with or without security;

(f) invest funds belonging to the Trust at the discretion of the Board in any such investments as are authorized by law for the investment of trust money and to recall, re-invest and vary such investments, at the discretion of the Board, and to collect income accruing from such investments; and

(g) to raise funds both locally and through foreign agencies for the purpose of finding the projects to be undertaken by the Trust.

(1) It shall be lawful for the Board, from time to time, at a general meeting and by a majority of members present and voting thereat, to make rules, not inconsistent with the provisions of this Act, or any other written law for all or any of the following matters:-

(2) Any rule made by the Board may be amended or rescinded in like manner as a rule may be under subsection (1).

(a) shall be in the custody of such person as the Board may from time to time determine;

(b) may be altered in such manner as may be determined by the Board; and

(c) shall not be affixed to any instrument or document except with the sanction of the Board, and in the presence of at least two members of the Board, who shall sign the instrument or document in token of their presence and such signing shall be independent of the signing of any person as a witness.