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As enacted

11. Corporation may hold property movable or immovable

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

The Corporation shall be able and capable in law to acquire and hold any property, movable or immovable, upon or by virtue of any instrument of purchase, grant, gift or lease or upon or by virtue of any testamentary disposition or otherwise, and all such property shall be held by the

Corporation for the purposes of this Act, and subject to the rules of the Corporation, to be made in accordance with section 7 of this Act with full power to sell, mortgage, lease, exchange, or otherwise dispose of, encumber or charge the same.