Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsApplication of property, moneys, & c
| 9. All property movable and immovable acquired or held by the Institute and all moneys paid to or received by the Institute under this Act or the by-laws shall be held, used and applied by the Institute in accordance with the by-laws for the furtherance of its objects and subject to such by laws, the Institute shall have the power from time to time to buy, sell, grant, convey, devise, assign, exchange or otherwise dispose of or mortgage any such property and invest its funds in such manner as may be necessary or expedient for the furtherance of its objects. |