5. Subject to the provisions of this Act and any other written law, the Corporation shall have the power
| (a) to purchase, acquire, rent, construct and otherwise obtain lands or buildings which may be required for the purposes of the Corporation ; |
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| (b) to borrow or raise money for the purposes of the Corporation ; |
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| (c) to make, draw, accept, discount, endorse, negotiate, buy, sell and issue bills of exchange, cheques, promissory notes and other negotiable instruments and to open, operate, maintain and close bank accounts; |
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| (d) to invest any funds not immediately required for the purposes of the Corporation in such manner as the Council may think fit ; |
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| (e) to solicit and receive subscriptions, grants, donations and gifts of all kinds ; |
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| (f) to enter into agreements or contracts with any person, company or body of persons; |
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| (g) to undertake, accept, execute, perform and administer any lawful trusts and conditions affecting any real or personal property; |
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| (h) to appoint, employ, dismiss or terminate the services of officers and servants of the Corporation and to pay them such salaries, allowances and gratuities as may be determined by the Corporation; |
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| (i) to train personnel in Sri Lanka or abroad for the purpose of the Corporation; and |
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| (j) to do all other things necessary or expedient for the proper and effective carrying out of the objects of the Corporation. |
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Sri Lanka Consolidated Acts