5. Powers of the Corporation to acquire property, invest funds, and raise loans & etc.

Subject to the provisions of this Act and any other written law, the Corporation shall have the power—

to purchase, rent, construct and acquire lands or buildings which may be required for the purpose of the Corporation ;

to borrow or raise money for the purpose of the

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 ;

to invest any funds not immediately required for the purpose of the Corporation, in such a manner as the

to solicit and receive subscriptions, grants, donations and gifts of all kinds ;

to enter into agreements or contracts with any person, company or body of persons ;

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 ;

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

to do all such other acts and things as are necessary or incidental or conducive to proper and effective carrying out of the objects of the Corporation.