| (2) For the purpose of discharging the functions referred to in subsection (1) the Board shall have the following powers :-
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| (a)to acquire, hold, take or give on lease or hire, mortgage, pledge, sell or otherwise dispose of, any movable or immovable property of the Board ; | | |
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| (b)to obtain loans on such terms and conditions as maybe approved by the Minister for the purpose of discharging its functions ; | | |
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| (c)to accept gifts, grants or donations whether in cash or otherwise, and to apply them for the purpose of discharging its functions; | | |
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| (d)to employ in consultation with the Minister, such officers and servants as may be necessary for discharging the functions of the Board and determine the terms and conditions of such employment; | | |
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| (e) to determine in consultation with the Minister the wages, salaries or other remuneration payable to such officers and servants ; | | |
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| (f) to establish, in consultation with the Minister and regulate, provident funds and other schemes for the benefit of such officers and servants, and make contributions to any such fund or scheme ; | | |
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| (g) to enter into and perform all such contracts whether in or outside Sri Lanka, as may be necessary for the exercise of the powers and the discharge of the functions of the Board ; | | |
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| (h) to make rules in respect of the administration of the affairs of the Board ; and | | |
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| (i) generally, to do all other things as are necessary to facilitate the proper discharge of the functions of the Board. | | |
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Sri Lanka Consolidated Acts