4. Powers of the Corporation

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

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Hanguranketha Madanwala Rajamaha Vihara

Development Foundation (Incorporation)

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 raise funds and receive grants, gifts or donations in cash or kind:

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 aboard;

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.