7. Powers of the Corporation

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

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

(a)

rent out lands and buildings belonging to the

Corporation in order to achieve the objects of the

Corporation;

(b)

raise funds and accept donations and gifts either in cash or materials;

(c)

construct or cause to construct buildings on any land belonging to the Corporation ;

(d)

make, write, accept, discount, counter sign, negotiate, purchase, sell and issue Bills of Exchange,

Cheques, Promissory notes and any other negotiable instrument and to open, operate and maintain Current and Savings Bank account in any Bank ;

(e)

invest the funds of the Corporation which are not immediately required for the purposes of the

Corporation;

(f)

accept, operate, fulfil and manage any lawful trust and conditions with regard to movable and immovable properties ;

(g)

appoint, remunerate, employ and dismiss officers and servants of the Corporation required for the carrying out of the objects of the Corporation; and

(h)

train persons required for the achievement of the objects of the Corporation.

Sri Kalyanodaya Society-Kandy