15. LEGAL PROCEEDINGS
The Board may:-
i. Commence, institute, prosecute, defend, compound, settle, comprise, adjust, refer to arbitration, withdraw or abandon and legal
proceedings by or against the Trust or Chairman or Vice-Chairman or Secretary or a Trustee or any employee of the Trust; and
ii. Cause appearance of any person for and on behalf of the Trust in any court or before any tribunal or any other officer in any action or
proceeding or matter in which the Trust is interested to promote, safeguard or defend its interest.
16. RULES AND REGULATIONS FOR ADMINISTRATION OF THE TRUST
The Board may frame rules and regulations for administration and management of the Trust and institutions set up by it. Such rules and
regulations shall be same force and effects as if they had been expressly contained in the Deed, provided the rules are not inconsistent with
any of the provision of this Deed or law or rule.
17. AMENDMENT OF THE TRUST DEED
Amendment of the Trust Deed shall be made with the approval of the appropriate Government authority.
18. AUDIT OF ACCOUNTS
i. Once at least every year the accounts of the Trust shall be examined and correctness of the balance sheet certified by a qualified accountant;
ii. The audited accounts shall be placed before the Board of Trustees within six (6) months after the close of the year; and
iii. The Board of Trustee shall appoint the auditors for each year and determine their remuneration.
19. DISPOSAL OF ASSETS IN THE EVENT OF DISSOLUTION
In case the Board finds at any time the Trust has ceased to be viable or they feel un able or incompetent to achieve the objects of the Trust,
they may dissolve the Trust and transfer its assets after meeting its liabilities to another institution to which approval has been granted by
appropriate authority of the Government with the express promise that it shall continue to work of this Trust. Intimation of the dissolution
of the Trust shall be sent to appropriate authority of the Government within three (3) months of the dissolution.
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Copyright
© 2002 [OLD HAILIANS ASSOCIATION].
All rights reserved...revised 08 August, 2006 |