4. Powers of the Corporation

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 Corporation shall have the power to —

(a)

open, operate and close bank accounts

;

(b)

borrow or raise money with or without security, and to receive or collect grants and donations ;

(c)

invest any funds not immediately required for the purposes of the Corporation ;

(d)

appoint, employ, and dismiss the employees required for the carrying out of the objects of the

Corporation and pay them such remuneration as may be determined by the Corporation.

Report