Section 6
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Rules of the Corporation, lime, at to acquire in any manncr whatsoever and hold any property, movable or immovable which may become vested in it by any purchase, grant, gift, device or otherwise ;
to sell, mortgage, lease, convey, devise, assign, exchange or otherwise dispose of any such property ;
to invest funds belonging to the Trust in treasury bonds, treasury bills and such other securities as may be determined by the Corporation ;
to open, operate and close, bank accounts and to borrow or raise money, with or without security ;
to engage, employ and dismiss officers and servants required for the carrying out of the objects of the
Trust ;
to raise funds and receive grants, gifts or donations in cash or kind ; and to do all such other acts and things as are incidental or conducive for the carrying out of the objects of the Trust.
It shall be lawful for the Corporation, from time to any meeting of the members and by a majority of not less than two thirds of the members present and voting, to make rules, not inconsistent with the provisions of this Act or any other written Law, and the terms of the Trust for all or any of the following matters :-—
the award of scholarships and the provision of financial assistance to the students of the Ruhunu
University ;
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4 The Board of Trustees of the Ronnie de Mel-Ruhunu
University Trust (Incorporation) Act, No. 31 of 2000
the procedure to be followed in the transaction of business at meetings of the Corporation ;
the powers, conduct, duties and functions of the
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members of the Corporation and various officers and servants of the Corporation ;
the defrayal of such expenses as may be incurred by the Trust for the purpose of carrying out the objects of the Trust ;
the administration and management of the property of the Trust, the custody of its funds and the maintenance and audit of its accounts ; and
such other things as may be necessary for the attainment of the objects of the Trust.
Any rule made by the Corporation may be altered, amended or rescinded at a like meeting and in like manner as a rule may be made under subsection (1).
All members of the Corporation shall be subject to the rules in force for the time being of the Corporation.