“Sisu Setha” Scholarship Trust Fund of Sri Lankan
Rules and regulation of the constitution of trust fund
3. Board of Trustees
and their responsibilities:
The Board of Trustees is
appointed with their wish and consent and they shall serve without any
The vacancy so created will be filled with the approval of other Trustees forming the Board.
Number of members for the
Board of Trustees may be change by majority decision
The Secretary appointed
by the board or be responsible for maintaining of accounts
5. Source of Funds
6. Area covered by the
7. The method of granting funds
The Board of Trustees in good-faith should unanimously select correct deserving persons and they will be awarded funds for Genuine and Projects as decided by the Board.
8. The control of
funds and maintaining accounts
Money received should be deposited in a Bank Account in the name of the Trust Fund and the articles received should be kept in safe custody until their disposed of as decided by the Board.
Receipts and expenses should be duly audited with supporting receipt and payment vouchers.
At the end calendar year accounts should be prepared and audited and certified by an approved Auditor. Approved accounts should be kept in the office for inspection by Donors of request. Accounts should be in simple form with relevant information prepared according to accepted standards of accounts.
Recurrent Expenditure should exceed 10% of the total expenditure unless on special circumstances as decided by the Board of Trustees.
9. Registered Office
Registered office of the Trust Fund shall be at #200/7, 1st lane, Grandburg Watta, Maharagama, Sri Lanka for the time being, unless change by a resolution past by the Board of Trustees.