4. Powers of the Corporation
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Kurugoda, Akurana (Incorporation)
Act, No. 60 of 2007
to provide assistance by way of scholarships, loans, advances and grants to deserving Muslim students to pursue their studies and research in Sri Lanka and abroad and to render assistance in any other manner as may be deemed neccessary to enable them to pursue their studies ; and train Muslim students to engage in any income generating industry using the raw materials available in the area.
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 as are necessary, or expedient for the carrying out of its objects.
Without prejudice to the generality of the powers conferred by subsection (1), the Corporation shall have the following powers :—
to-acquire and hold any property, movable or immovable which may become vested in it by virtue of purchase, grant, gift, testamentary dispositions or Otherwise;
to sell, mortgage, lease, exchange or otherwise alienate or dispose of any such property;
to open, operate and close bank accounts and to borrow or raise moneys with or without security;
to receive or collect grants and donations from local or foreign institutions and persons ;
to invest the funds belonging to the Corporation in any manner which the Board of Management considers best; and to engage, employ and dismiss personnel required for the carrying out of the objects of the Corporation.
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Dhaarul Uloom Al-Meezaniyyah Arabic College,
Kurugoda, Akurana (Incorporation)
Act, No. 60 of 2007