6. Powers of the body corporate

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Subject to the provisions of this Act and any other written law, the body corporate shall have the power to do, perform and execute all such acts and matters as are necessary or desirable for the promotion or furtherance of the objects of the body corporate or any one of them, including the power–

(a)

to purchase, rent, construct, renovate and otherwise obtain lands or buildings which may be required for the purposes of the body corporate and to deal with or dispose of the same as may be determined by the

Board with a view to promoting the objects of the body corporate;

(b)

to enter into and perform or carry out, whether directly or through any officer or agent authorised in that behalf by the body corporate, all such contracts or agreements as may be necessary for the attainment of the objects or the exercise of the powers of the body corporate;

(c)

to borrow or raise funds with or without securities and to receive grants, gifts or donations from local or foreign sources in cash or kind:

Provided that, the Board shall obtain the prior written approval of the Department of External

Resources in respect of all foreign funds, grants, gifts or donations received by or made to the body corporate;

(d)

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;

(e)

to invest any funds that are not immediately required for the purposes of the body corporate, in such manner as the Board may determine;

(f)

to undertake, accept, execute, perform and administer any lawful trust having objects similar to the body corporate or any real or personal property with a view to promoting the objects of the body corporate;

(g)

to appoint, employ, dismiss or terminate the services of officers and other employees of the body corporate and exercise disciplinary control over them and to pay them such salaries and allowances as may be determined by the body corporate;

(h)

to organize lectures, seminars and conferences with a view to promoting the objectives of the body corporate;

(i)

to liaise and co-ordinate with other local and foreign institutions having similar objects to those of the body corporate;

(j)

to train officers and other employees in Sri Lanka or abroad for the purposes of the body corporate; and

(k)

to do all such acts and other things authorized by this

Act for the achievement of the objects of the body corporate.

Read on from s 7