6. Powers of the body corporate

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

to purchase, rent, construct, renovate or 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 Council with a view to promoting the objects of the body corporate;

enter into and perform or carry out, whether directly or through any officer or agent authorized 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;

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 :

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;

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

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;

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, allowances and gratuities as may be determined by the body corporate;

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

to do all other things as are necessary or expedient for the proper and effective carrying out of the objects of the body corporate.