5. Powers of the Authority

The Authority Shall have the following powers :––

to acquire and to hold, property, both movable and immovable, and to pledge or sell, mortgage, give on lease or hire, exchange or otherwise dispose of, the same ;

to accept grants, gifts or donations of immovable or movable property from any government, persons or bodies of persons, in or outside Sri Lanka ;

to enter into, and perform all such contracts and agreements as may be necessary for the purposes of discharging its functions ;

to appoint such officers and servants as may be necessary for the discharge of its functions and to exercise disciplinary control over, and dismiss, such officers and servants ;

to determine the remuneration payble to,and the terms and conditions of service of, such officers and servants ;

to charge fees for services and facilities rendered or provided by it ;

to borrow or raise money, with or without security ;

to conduct training courses workshops and symposia for the purposes of discharging its functions ;

to invest its unutilized moneys in such securities as may be approved by the Minister with the concurrrence of the Minister in charge of the subject of finance ;

to do all such other acts as may be necessary for, or conducive to, the discharge of it’s functions.