Colombo Young Men's Buddhist Association (Amendment) Act (No. 20 of 1957)

Sri Lanka Consolidated Acts

Insertion of new section 12 in the principal enactment

5. The following new section is hereby inserted Immediately after section 11, and shall have effect as section 12, of the principal enactment:-

12.

	(1) There shall be a board of governors consisting of seven persons.

	(2) The first members of the board of governors shall be elected at a general meeting of the corporation, and, where any vacancy occurs among the members of that board thereafter, the remaining members of that board shall fill such vacancy by electing a fit and proper person as a member of that board.

(3) No person shall be elected as a member of the board of governors if he-

(a) is not a member of the corporation,

(b) Is not a Buddhist,

(d) is a person who, having been declared an insolvent under any law in force in Ceylon, is an undischarged insolvent,

(e) is of unsound mind, or

(f) is a person who has been convicted by any court of an offence involving moral turpitude.

(4) A member of the board of governors shall be deemed to vacate office, if he-

(a) is of unsound mind,

(b) is absent from three consecutive meetings of such board without the prior permission of such board,

(c) is a person who, having been declared an insolvent under any law in force in Ceylon, is an undischarged insolvent, or

(d) is convicted by any court of an offence involving moral turpitude.

	(5) A member of the board of governors may resign office by letter addressed to such board.

	(6) No act of the board of management of the corporation shall be valid or effective for the purpose of transferring any rights in the property or funds of the corporation or for creating any liability or claim against the corporation unless such act has been previously authorized by a resolution passed by a majority of the members of the board of governors present at a meeting of that board :