Sri Lanka Consolidated Acts

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Automobile Association Of Ceylon Act (No. 19 of 1957) - Sect 8

The corporation may acquire, hold and dispose of property, and borrow money

8. The corporation-
(a) may acquire and hold any movable or immovable property by right of purchase, grant, gift, testamentary disposition or otherwise,
(b) shall hold any property subject to the rules of the corporation,
(c) may sell, mortgage, lease, exchange or otherwise dispose of any of its properties, and
(d) borrow money for the purposes of the corporation.

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