| (1) The Board may exercise all or any of the following powers:-
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| (a) acquire, hold take on lease or hire, mortgage, sell or otherwise dispose of, any movable or immovable property; | | |
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| (b) borrow money for the purposes of the Board in such manner and upon such security as the Board may, with the approval of the Minister given with the concurrence of. the Minister of Finance, determine; | | |
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| (c) conduct, assist and encourage research into all aspects of the insurance activities of the Board; | | |
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| (d) enter into and perform, either directly or through any officer or agent authorized in that behalf, all such contracts as may be necessary for the discharge of its functions; | | |
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| (e) do anything, for the purpose of advancing the skills of officers and servants of the Board, and to provide facilities for training persons required for discharging the functions of the Board; | | |
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| (f) authorize any member or officer of the Board to discharge such functions as the Board may consider necessary for the efficient transaction of its business; | | |
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| (g) make rules in relation to its officers and servants including their appointment, promotion, remuneration, disciplinary control, conduct and grant of leave to them; | | |
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| (h) enter into joint schemes with any Public Corporation, Company registered under the Companies Act, No. 17 of 1982, cooperative society or any Agrarian Institution, for discharging its functions under this Act; | | |
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| (i) to make rules in respect of the administration of the Board; | | |
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| (j) to delegate, subject to the general or special direction of the Board, to the Chairman of the Board and through him to any member or officer of the Board, any such function of the Board as the Board may consider necessary so to delegate for the efficient discharge of such functions; | | |
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| (k) to do all other things which in the opinion of the Board are necessary or incidental to the discharge of its functions. | | |
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Sri Lanka Consolidated Acts