5.
| (1) Subject to the provisions of this Act and any other written law, the Board shall in the name of the Corporation have the power to do all such acts and things whatsoever as are necessary for, or conductive or incidental to, the carrying out of the objects of the Corporation. |
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| (2) Without prejudice to the generality of the powers conferred by subsection (1), the Board may exercise and discharge the following powers and functions:-
| | (a) to acquire and hold any property, movable or immovable, which may become vested in the corporation by virtue of any purchase, grant, gift, request or otherwise; | | |
| | (b) to sell, mortgage, lease or grant, convey, exchange or otherwise dispose any such property ; | | |
| | (c) to invest moneys belonging to the Corporation in such securities as may be determined by the Board ; | | |
| | (d) to open, operate and close bank accounts and to borrow or raise money with or without the property of the Corporation as security, for the purposes of the Corporation ; | | |
| | (e) to raise and receive funds, locally and from abroad, and to receive grants, gifts or donations in cash or in kind ; and | | |
| | (f) to employ such officers and servants as may be necessary for carrying out the objects of the Corporation. 1998 | | |
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| (3) The moneys and property of the Corporation when so ever derived, shall be applied solely towards the Promotion of its objects as set forth herein, and no portion thereof shall be paid or transferred, directly or indirectly, by way of dividend, loan , bonus, profit or otherwise howsoever to the members of the Corporation : |
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Sri Lanka Consolidated Acts