6. Powers of the Corporation

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

Subject tQ the provisions of this Act and any other written law, the Corporation shall have the power 10 d0.

perform and execute all such acts, matters and things whatsoever, as are necessary or desirable for the promotion or furtherance of the objects of the Corp0ration or any one of them, including the power-

(a)

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

(b)

to raise funds and receive grants. gifts or donations in cash or kind ;

(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 notes and other negotiabk instruments and to open, operate, maintain and close current, savings and deposit accounts in any bank ;

(e)

to inÜest any funds not immediately required fur

Ýe purposes of the Corporation in such manner as the Committee may think fit ;

Bambalapitiya Flats Buddhist Society 5

({11corporatio11) Act, No. 4 of 2008

(j)

to undertake, accept, execute·, perform and administer any 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 Sri Lanka for the purposes of the Corporation.

Read on from s 7