Dr. Malani Fonseka Foundation Act 2012 · As enacted
4. Powers of the Corporation
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
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 and matters as are necessary or desirable for the promotion or furtherance of the objects of the Corporation or any one of them, including the power—
to purchase, acquire, rent, construct, renovate and otherwise obtain lands or buildings which may be required for the purposes of the Corporation ;
to borrow or raise funds with or without securities and to receive grants, gifts of donation in cash or kind :
Provided that, the Board shall obtain prior written approval of the Department of External Resources of the Ministry of the Minister to whom the subject of Finance is assigned, in respect of all foreign grants, gifts or donations and it shall be audited by the Auditor General ;
(Dr.) Malani Fonseka Foundation(Incorporation)
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 ;
to enter into contracts partnerships or agreements with any Governmental or non Governmental organizations or any other person or institution whether in Sri lanka or abroad ;
to invest any funds that are not immediately required for the purposes of the Corporation, in such manner as the Executive Committee may determine ;
to appoint, employ, dismiss or terminate the services of officers and servants of the Corporation and exercise disciplinary control over them and to pay them such salaries, allowances and gratuities as may be determined by the Corporation;
to train personnel in Sri lanka or abroad for the purposes of the Corporation ; and
to do all other things as are necessary or expedient for the proper and effective carrying out of the objects of the Corporation.