5. The Corporation may exercise all or any of the following powers: -
| (a) to acquire by purchase, gift, bequest, exchange or in any other manner and hold any movable or immovable property and to take or give on lease or mortgage, sell, grant, exchange or otherwise dispose of any such property acquired or held by the Institute; |
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| (b) to construct, purchase, maintain and repair anything required for the purposes of the Institute; |
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| (c) to borrow or raise money with or without security for any of the purposes of the Institute; |
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| (d) to employ such officers and servants as may be necessary to carry out the work of the Institute and to pay their salaries, gratuities and allowances; |
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| (e) to pay allowances and gratuities and to make ex gratia payments to officers and servants of the Institute upon their retirement and to the widows and orphans of such officers and servants; |
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| (f) to establish a fund for the grant of financial assistance to the widows and orphans of Corporate Members and Honorary Members; |
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| (g) to establish a fund for the grant of financial assistance to Corporate Members and Honorary Members who are incapacitated; |
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| (h) to charge fees for admission of persons: to any grade of membership and for the renewal of such membership; |
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| (i) to charge fees for the admission of persons to the qualifying examinations and the courses of study provided by the Institute; |
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| (j) to utilize the moneys of the Institute to meet all expenditure incurred in carrying put its objects, in remunerating its employees and in the exercise of its powers and duties; |
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| (k) to invest such moneys of the Institute as are not immediately required for the purposes of the Institute in any such securities and in such manner as the Corporation may deem fit; and |
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| (l) to take all such steps as may be necessary or desirable for the promotion of all or any of the objects of the Institute. |
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Sri Lanka Consolidated Acts