Section 7

Property remaining on dissolution to borrow money for the purposes of the Corporation ;

to make, draw, accept, discount, endorse, negotiate, buy, sell and issuc, bills of exchange, cheques, promissory notes and other negotiable instruments and to open, operate, maintain and close bank accounts in

Sri Lanka, or abroad subject to existing law ;

to invest any funds not immediately required for the purpose of the Corporation in such manner das the

Board of Management may consider desirable ;

to solicit and receive subscriptions, grants, donations, and gifts ;

to.enter into agreements or contracts with any person, or body of persons whether incorporated in Sri Lanka or abroad or with any Government Department,

Corporation, Board, Provincial Council or local authority for the achievement of the objects of the

Corporation ; and to train personnel in Sri Lanka or abroad for the benefit of the Corporation.

If upon the dissolution of the Corporation there remains after the satisfaction of all its debts and liabilites any property whatsoever, such property shall not be distributed among the members of the Corporation, but shall be given or transferred to some other institution or institutions having objects similar to those of the Corporation and which is or are by the rules thereof prohibited from distributing any income or property among its or their members. The members of the Corporation shall determine such institution or institutions at the time of dissolution of the Corporation or prior to dissolution.

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International Friendship, Educational, Cultural and Social Services Association (Incorporation)

Act No. 30 of 2000