26. The Committee of Management shall have the power
| (i) to receive and recover all moneys due to the Corporation and to pay out of its funds in the manner provided for in the rules of the Corporation; |
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| (ii) to enter into contracts or agreements on behalf of the Corporation and to determine who shall sign such contracts or agreements on behalf of the Committee of Management; |
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| (iii) to receive donations, contributions or grants made under any legal enactments of Ceylon or any voluntary contributions made by any person for promoting the objects of the Corporation; |
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| (iv) to incur such expenditure as may be necessary for the administration of the affairs of the Corporation; |
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| (v) to appoint, if necessary, any fit and proper person or persons, residing within the Galle Municipal limits on entering into a bond and on furnishing such security as the Committee of Management may determine from time to time, for the performance of clerical or accounting duties of the Committee of Management and to remunerate any such person or persons or any otter persons for such services rendered at the express request of the Committee of Management; |
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| (vi) to make rules from time to time, by resolution with regard to the order of precedence which shall be followed in granting loans, the period within which such loans shall be repaid, the nature of the agreement which shall be entered into by the borrower and to decide on all matters connected with the grant of loans and their repayment not provided for in the rules of the Corporation; |
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| (vii) to impose duties on and assign functions to the Honorary Treasurer and Honorary Assistant Treasurer in addition to any duties and functions imposed on and assigned to them by this Act or by rules made thereunder; |
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| (viii) to consider and decide on applications received for the grant of loans; |
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| (ix) to initiate legal action or other proceedings that it deems fit, against those who default in payment of loan balances due to the Corporation; |
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| (x) to suspend or expel any member who behaves in an unruly manner at a meeting of the Corporation; |
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| (xi) to determine what penalties should be imposed on any member who is expelled, suspended or discontinued or found guilty of breach of the rules, for any reason considered sufficient by the Committee of Management; |
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| (xii) to check accounts and balance of cash in hand at every monthly meeting of the Committee of Management and scrutinize the overdue loans. |
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Sri Lanka Consolidated Acts