4. Subject to the provisions of section 14, the Foundation shall have the following powers : "
| (a) to acquire and hold property, movable or immovable,, which may become vested in it under this Act or by virtue of any purchase, grant, gift, testamentary disposition or otherwise, and subject to any trusts attaching to such property, to sell, mortgage, lease, exchange or otherwise dispose of the same ; |
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| (b) to erect, or cause to be erected, any building or structure on any land belonging to the Foundation, and to manage, maintain, repair, renovate, restore and conserve, any historic, cultural, or archaeological building or structure or monuments vested in, or held by, the Foundation subject to any obligation, by way of trust or otherwise, attaching to such property ; |
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| (c) to act as trustees in respect of any property within the Galle Fort and its historic hinterland, for the government or any individual or incorporate or unincorporate body ; |
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| (d) to enter into and perform, all such contracts as may be necessary for the exercise of its powers or the performance of its duties ; |
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| (e) to receive or collect gifts, grants, or donations, in cash or land from local or foreign sources ; |
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| (f) to undertake and to fund, research into the history of the Galle Fort and its historic hinterland and to publish the results of such research ; |
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| (g) to maintain, improve, repair and develop, public amenities within the Galle Fort and its historic hinterland, subject to the directions of the Department of Archaeology, the Urban Development Authority, the Galle Municipal Council, the Department of Coast Conservation and of the Ceylon Tourist Board ; |
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| (h) 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 ; |
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| (i) to establish and maintain, educational institutions, museums, laboratories, research centres, observatories, places providing accommodation, and to conduct workshops, in furtherance of the objects of the Foundation ; |
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| (j) to borrow, with or without security, moneys necessary for carrying out its objects ; and |
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| (k) to invest any moneys belonging to the Foundation including any unapplied income, in any security in 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 to place in fixed deposit in any bank any portion of such moneys not required for immediate expenditure. |
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Sri Lanka Consolidated Acts