6.The Institute shall have such powers as may be necessary for the attainment of its aims and objects and in particular, shall have the power to do the following:
| (a) to make rules in respect of the management of the affairs of the Institute ; |
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| (b) to accept and receive grants, donations, gifts, bequests, both movable and immovable, from domestic and foreign sources, and to apply them to the promotion of its aims and objects ; |
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| (c) to acquire and hold property, movable or immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition or otherwise and subject to the rules of the Institute, to sell, assign, exchange or otherwise dispose of the same ; |
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| (d) to enter into such contracts as are deemed necessary for the attainment of its aims and objects; |
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| (e) to appoint, employ, remunerate and exercise disciplinary control over such officers, servants or agents as are necessary or useful for the attainment of the aims and objects of the Institute; |
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| (f) to enter into agreements for co-operation with educational and other institutions, whether in Sri Lanka or abroad, having objects wholly or partly similar to those of the Institute, for the exchange of personnel, advisory services, research, the training of personnel or generally, for such purposes as may be conducive to their common objects; and |
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| (g) to open and maintain current, savings of deposit accounts in any bank or banks ; |
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| (h) to invest its funds in such securities as may be approved by the Board ; |
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| (i) to establish provident funds or pension schemes for the benefit of officers and servants of the Institute and to make contributions to any such fund or scheme; |
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| (j) to borrow such sums of money as may be necessary for the discharge of its functions ; |
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| (k) to erect, equip and maintain libraries ; |
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| (l) to take such action as may be necessary to advance the skills of its officers and servants; |
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| (m) to issue publications ; |
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| (n) to undertake all such activities in the opinion of the Institute are necessary to facilitate the attainment of its objects and the discharge of its functions. |
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Sri Lanka Consolidated Acts