6. Powers of the body corporate

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 body corporate shall have the power to do, perform and execute all such acts and matters as are necessary or desirable for the promotion or furtherance of the objects of the body corporate or any one of them, including the power—

(a)

to purchase, acquire, rent, construct, renovate and otherwise obtain lands or buildings which may be required for the purposes of the body corporate and to deal with or dispose of the same as may be deemed expedient with a view to promoting the objects of the body corporate;

(b)

enter into and perform or carry out, whether directly or through any officer or agent authorized in that behalf by the body corporate, all such contracts or agreements as may be necessary for the attainment of the objects or the exercise of the powers of the body corporate;

(c)

to borrow or raise funds with or without securities and to receive grants, gifts or donations in cash or kind:

Provided that, the Board of Management shall obtain the prior written approval of the Department of Externeal Resources of the Ministry of the

Minister assigned the subject of Finance, in respect of all foreign grants, gifts or donations made to the body corporate;

(d)

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 accounts in any bank;

(e)

to invest any funds that are not immediately required for the purposes of the body corporate, in such manner as the Board of Management may determine;

(f)

to undertake, accept, execute, perform and administer any lawful trust or any real or personal property with a view to promoting the objects of the body corproate;

(g)

to appoint, employ, dismiss or terminate the services of officers and servants of the body corporate and exercise disciplinary control over them and to pay them such salaries, allowances and gratuities as may be determined by the body corporate;

(h)

to organize lectures, seminars and conferences with a view to promoting the objectives of the body corporate;

(i)

to liaise and co-ordinate with other local and foreign institutions having similar objects to that of the body corporate;

(j)

to train personnel within and outside Sri Lanka for the purposes of the body corporate;

(k)

to establish, print and publish newspapers, trade directories, journals, magazines or periodicals relating to the activities of the body corporate or

Chamber of Construction Industry of matters pertaining to the construcion industry and to disseminate such information in any manner as the Board of Management may decide; and

(l)

to do all other things as are necessary or expedient for the proper and effective carrying out of the objects of the body corporate.

Read on from s 7