12.
| (1) It shall be lawful for the Corporation from time to time, at any General Meeting of the members, and by a majority of votes, without prejudice to the generality of the powers hereby conferred, to make rules for any of the following purposes and for giving effect to the provisions of this Act:-
| | (a) the admission, withdrawal or expulsion of members;
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| | (b) the determination and collection of contributions or other calls payable by members and the payment of moneys due to them;
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| | (c) the imposition of penalties and forfeitures for breach of rules;
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| | (d) the election, the powers, conduct and duties of the Committee of Management, and of the various officers, agents and servants of the Corporation;
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| | (e) the procedure in the transaction of business;
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| | (f) the withdrawal or refunding of any contributions;
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| | (g) the regulation of extraordinary loans to be given to members under section 34 and the prescribing of the conditions applicable to such loans including their nature and the guarantors to be accepted; and
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| | (h) generally for the management of the affairs of the Corporation and the accomplishment of its objects.
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| (2) Pending the making of such rules, the rules of the said Association in force at the date of the coming into operation of this Act shall continue to be in force. |
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| (3) No rule made and no decision come to at any General Meeting of the members shall be altered, added to, amended or cancelled, at any subsequent General Meeting except by a majority of two-thirds of the members present and voting. |
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| (4) The rules of the Corporation for the time being shall bind the Corporation and all members thereof and all persons claiming through them respectively to the same extent as if each member had subscribed his name thereto and there were contained in such rules a covenant on the part of himself, his nominees, his heirs, executors and administrators to conform thereto subject to the provisions of this Act. |
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Sri Lanka Consolidated Acts