7. Officers and servants of the Foundation

Vijaya Kumaratunga Memorial Foundation

Provided however that no immovable property of the Foundation shall be sold without the prior written approval of the Minister ;

to enter into and perform, all such contracts as may be necessary for carrying out the objects of the

Foundation ;

to receive or collect, gifts, grants or donations, in cash or kind, from local or foreign persons or organisations ;

to make, draw, accept, endorse, negotiate, buy, sell and issue, bills of exchange, cheques, promissory notes and other negotiable instruments and to open and maintain, current, savings, and deposit accounts in any bank or banks ;

to borrow, with or without security, moneys necessary for carrying out its objects ;

to invest any moneys belonging to the Foundation including any unapplied income, in any security which under the provisions of section 20 of the Trusts

Ordinance (Chapter 87), or of any other written law, it is lawful to invest trust moneys, or to invest any such moneys in the purchase of immovable property in Sri Lanka, or vary such investments or place in fixed deposits in any bank, any portion of such moneys not required for immediate expenditure ;

to appoint such officers and servants as may be necessary for carrying out its objects ; and to make rules in relation to all matters connected with the working of the Foundation.

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Subject to the provisions of this Act and any rules made thereunder, the Board shall have the power to appoint the officers and servants of the Foundation:

Every appointment of the officers and servants of the

Subject to the provisions of this Act and any mules made thereunder, the Board shall determine the terms and conditions of service of the officers and servants of the Foundation including their wages, salaries and other remuneration.

The officers and servants of the Foundation shall be subject to the disciplinary control, including power of dismissal, of the Board. The Board may make rules in regard to matters of discipline.

The Board may establish and regulate provident funds and schemes for the benefit of the officers and servants of the