As enacted

Contents

3. General objects of the Corporation

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

The General objects for which the Corporation is constituted are hereby declared to be :-—

(a)

to promote and advance the study and practice of

Credit Management ;

(5)

(d)

(g)

(A)

Sri Lanka Institute of Credit Management

(Incorporation) Act, No. 7 of 2000

to organize, supervise, and control the admission to membership of the Corporation and to undertake and regulate the professional education and training of persons desiring to study for qualify in Credit

Management, to prescribe and approve courses for study for qualifying examinations for membership of the Corporation to conduct or provide for the conducting of such courses and examinations and to collaborate with recognized educational institutions for the furtherance of education in the field of Credit Management ; .

(c)

to seek recognition from and affiliate with appropriate Institutions ;.

to create and offer awards and prizes for achievements in the filed of Credit Management ;

(e)

to prescribe the qualifications and disqualifications for membership of the Corporation, and the standards of professional condut for members of the Corporation and to secure adherence thereto ;

to protect and promote the intersts, status, welfare, rights and privileges of the professions and interests of the Public in relation to the profession of Credit

Management ;

to organize and conduct conferences, seminars, forums; workshops and meetings ; and to do all such other acts and things as are necessary for and incidental or conducive to the attainment of the above objects ;

Powers of the 4. Corporation.

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

(a)

acquire, hold, take or give on lease or hire, mortgage, pledge, sell, exchange, or otherwise alienate, e-cumber or dispose of, any immovable property for the purpose of the-Corporation :

(b)

(c)

(d)

(e)

(g)

(A)

(i)

(k)

Sri Lanka Institute of Credit Management 3

(Incorporation) Act, No. 7 of 2000

enter into and perform or carry out, whether directly or through any officer or agent authorized in that behalf by the Corporation, all such contracts or agreements as may be necessary for the attainment of the objects or the exercise of the powrs of the

Corporation ;

accept gifts, donations and. requests in cash or in kind ;

invest its funds, create and administer Trusts and to maintain current,-deposit and savings accounts in any Bank ;

publish or cause to be published books, journals, magazines and other literature and establish and maintain libraries, bookshops and printing presses ;

advance or lend and to borrow money for the purposes of the Corporation in such manner and upon such security as the Corporation may think fit ;

levy fees, subscriptions and contributions in respect of membership, admission to membership and admission to courses and examinations conducted by or on behalf of the Corporation ;

prescribe the terms and conditions of, and to supervise, control and regulate the engagement, training, transfer and dismissal of persons desiring to qualify as Credit Managers ;

appoint, employ, transfer, exercise disciplinary control over and dismiss, officers and servants required for.the carrying out of the objects of the

Corporation, and to prescribe their terms and conditions of sevices ;

establish and maintain hostels ; and generally do all such acts. and things as are necessary for and incidental or conducive to the carrying out of the objects ‘of the

Corporation

Report

Read on from s 5