Sri Lanka Consolidated Acts

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Colombo Bible College (Incorporation) Act (No. 32 of 1971) - Sect 15

Council of Management

6. The income and property of the Corporation shall be applied solely towards the promotion of the objects of the Corporation and no portion thereof shall be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit, to the members of the Corporation:Provided that nothing in the preceding provisions of this section shall prevent-
(a) the payment in good faith of reasonable and proper remuneration to any officer or servant of the Corporation or to any member of the Corporation for any services rendered to the Corporation;
(b) the payment of interest at a rate not exceeding five per Centura per annum on money lent, or reasonable and proper rent for premises let, to the Corporation by any member of the Corporation or by any company of which a member of the Corporation is a member holding shares not exceeding one-hundredth part of the capital of the company;
(c) the payment of any grant by the Corporation to any member of the Corporation for any services done or rendered for the Corporation in promoting its objects;
(d) the delivery of specimen copies of the publications of the Corporation to the members of the Council of Management of the Corporation;
(e) the repayment of expenses incurred by any member, officer or servant of the Corporation in the performance of his functions or duties or in promoting the objects of the Corporation.
Council of Management.
6.
(1) The affairs of the College shall subject to the Rules and to any resolution which has been passed at a general meeting of the members of the College and has been entered in the duly confirmed minutes of the meeting be administered by a Council of Management consisting of the President, the Vice-President, the Secretary, the Treasurer, the Principal and such other members not exceeding fifteen as are elected to the Council in accordance with the Rules at an Ordinary General Meeting.
(2) The first Council of Management shall consist of the following: -
(3) A member of the teaching staff of the College or a student of the College shall not, whilst he is a member of such staff or a student of the College or until the expiry of one year after the date on which he ceases to be a member of such staff or a student of the College, be eligible for office as a member of the Council of Management. Provided that the preceding provisions of this paragraph shall not apply to the Principal of the College, nor to those persons whose names are mentioned in Rule 6 (2) above.
(4) Every member of the Council of Management shall, unless he earlier vacates office by death, resignation or removal, hold office for a period of three years. Any such member who vacates office by effluxion of time shall be eligible for reappointment.
(5) A member of the Council of Management shall cease to hold office as such member-
(i) if he resigns his office by writing under his hand addressed to the President of the College;
(ii) if he ceases to be a member of the College;
(iii) if the Council of Management by a majority of the members of the Council present and voting decides that in the interests of the College such member should be removed from office.
(6) Whenever a vacancy occurs in the Council of Management, the remaining members of the Council may elect any member of the College to fill such vacancy and the member so elected shall continue in office until the next Ordinary General Meeting of the College.
(7) A resolution in writing signed by all the members of the Council of Management shall be as valid and effectual as if it had been passed at a meeting of the Council of Management which was duly convened.

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