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srilawsby aturio
As enacted
Contents

Part I · Part i

5. Powers of the Authority

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

The Authority may, for the purpose of discharging its functions, exercise all or any of the following powers, subject to the provisions of any other written law:-

(a)

enter into contracts or agreements with any person including a Government Department, Local

Authority, public corporation or any other institution, whether private or public, to enable the

Authority to exercise, perform and discharge its powers, duties and functions under the Act effectively;

(b)

accept grants, gifts or donations, whether in cash or otherwise, from persons or bodies of persons within or outside Sri Lanka and apply them in the discharge of its functions under the Act:

Provided that, notwithstanding anything to the contrary in any other provisions of this Act, the

Authority shall obtain prior written approval of the

Department of External Resources, in respect of all foreign grants, gifts or donations;

(c)

open and maintain current, savings or deposit accounts in any State bank or State financial institution as may be determined by the Authority;

(d)

invest in State banks and State financial institutions any funds not immediately required for the purposes of the Authority in such manner as the Authority may think appropriate;

(e)

purchase and hold any movable or immovable property or give on lease, mortgage, pledge, sell or otherwise dispose of any movable or immovable property purchased or held by the Authority for the purposes of the Authority; and

(f)

maintain any office, branch office or stores outside the designated areas and execute outside such designated areas any such work as may be necessary for the discharge of functions under the Act.

Read on from s 6

Part II

Management and Administration of the Authority

Read on from Part II

Part III

Appointment of the Director-General and Staff of the Authority

Read on from Part III

Part IV

Finance

Read on from Part IV

Part V

General

Read on from Part V