4. 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)

open, operate and close bank accounts;

(b)

borrow or raise money with or without security, and to receive or collect grants and donations;

(c)

invest any funds of the Corporation which are not immediately required for the purpose of the

Corporation in a way that may be determined by the Committee of Management;

(d)

purchase, acquire, give on lease or hire,sell or otherwise obtain any movable or immovable

Tharunyata Hetak Organization property which may be required for the purpose of the Corporation and which may lawfully be acquired for those purposes and to deal with or dispose of the same, as it may deem expedient with a view to promoting the objects of the Corporation;

(e)

appoint, employ and dismiss the employees required for the carrying out of the objects of the

Corporation and pay them such remuneration as may be determined by the Corporation;

(f)

enter into, 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 powers of the

Corporation; and

(g)

appoint advisory councils, committees or sub committees as and when necessary to carry out any functions of the Corporation as may be determined by the Committee of Management.

Read on from s 5