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6. Powers of the Corporation

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Subject to the provisions of this Act and any other written law, the Corporation shall have the power—

(a)

to borrow or raise money for the purposes of the

Corporation ;

(b)

to make, draw, accept, discount, endorse, negotiate, buy, sell and issue bills of exchange, cheques, promissory notes and other negotiable instruments and to open, operate, maintain and close bank accounts ;

(c)

to invest any funds not immediately required for the purpose of the Corporation, in such manner as the

Committee may think fit ;

(d)

to solicit and receive subscriptions, grants, donations and gifts of all kinds ;

(e)

to enter into agreements or contracts with any person, or body of persons ;

(f)

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

(g)

to appoint sub-committees to carry out the objects of the Corporation ; and

(h)

to do all such other acts and things as are necessary or expedient for the accomplishment of the objects of the Corporation.