4. Power of the Corporation to acquire property, invest funds, and raise loans etc.

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

to acquire and hold, purchase, rent, construct and otherwise obtain lands or buildings which may be required for the purposes of the Corporation;

to borrow or raise money from Government approved Banks and other institutions (foreign and local) for the purposes of the Corporation with the approval of the Executive Committee;

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 bank accounts;

to invest any funds not immediately required for the purposes of the Corporation, in such manner as the

to solicit and receive subscriptions, grants, donations and gifts of all kinds;

to enter into agreements or contracts with any person, company or body of persons;

to undertake, accept, execute, perform and administer any lawful trusts and conditions affecting any real or personal property acquired or in the possession of the Corporation;

to appoint, employ, dismiss or terminate the services of officers and servants of the Corporation and to pay them such salaries, allowances and gratuities as may be determined by the Corporation;

to train personnel in Sri Lanka or abroad for the purpose of the Corporation; and

to do all other things necessary or expedient for the proper and effective carrying out of the objects of the Corporation.