6. Power of the Corporation to acquire property, invest funds, and raise loans &c

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

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

to borrow or raise money from the Government approved Banks and other institutions or accept aids and donations (foreign and local) for the purposes of the Corporation with the approval of the Council;

to make, draw, accept, discount, endorse, negotiate, buy, sell and issue bills of exchange, cheques, promissory notes and other negotiable instrument 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 Council may think fit,

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 undertake, accept, execute, perform and administer any lawful trusts and conditions affecting any real or personal property;

to appoint, employ, dismiss or terminate the services of officer and servants of the Corporation and to pay them such salaries, allowances and gratuities as may be determined by the Corporation; and

to train personnel in Sri Lanka or aborad for the purpose of the Corporation.