4. Powers of the Corporation

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Subject to the provisions of this Act, and any other written law, the Corporation shall have the power to do perform and execute all such acts matters and things whatsoever of the objects of the Corporation or one of them, including the power—

(a)

to purchase, acquire, rent, construct or otherwise obtain land or building which may be required for the purposes of the Corporation;

(b)

to receive grants, gifts or donation, in cash or kind whether from local or foreign sources;

(c)

to erect or cause to be erected, any building or structure on any land belonging to, or held by the

Corporation;

(d)

to make, draw, accept, discount, endorse, negotiate, buy, sell and issue bills of exchange, cheques, promissory note and other negotiable instruments and to open, operate, maintain and close current, saving and deposit account in any bank;

(e)

to invest any funds not immediately required for the purposes of the Corporation in such manner as the Committee may think fit;

(f)

to undertake, accept, execute, perform and administer lawful trusts and conditions affecting any movable or immovable property;

(g)

to appoint, employ, dismiss or terminate the services of officers and servants of the Corporation and to pay them such salaries, allowances and gratuities as may be determined by the corporation; and

(h)

to train personnel in the matters required to be done for the implementation of the objects of the

Corporation.

Read on from s 5