5. General powers of the Corporation
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Subject to the provisions of this Act and any other written law, the Corporation shall have the power-
to borrow or raise money for the purposes of the
Corporation ;
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 ;
Dr. Soma Edirisinghe Fund (Incorporation)
to invest any funds not immediately required for the purposes of the Corporation in such manner as the
Council may think fit ;
to solicit and receive subscriptions, grants, donations and gifts of all kinds ;
to enter into agreements or contracts with any person or body of persons ;
to undertake, accept, execute, perform and administer any lawful trusts and conditions affecting any property ;
to appoint, employ, dismiss or terminate the services of officers and servants of the Corporation and to pay them such salaries, allowances and gratuities as may be determined by the Corporation ; and to train personnel in Sri Lanka or abroad for the purposes of the Corporation.