5. The Board shall, in the name of the Trust, have the power to-
| (a) receive grants, gifts or donation in cash or kind whether from local or foreign sources with the approval of the Department of External Resources; |
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| (b) acquire in any manner whatsoever and hold, take or give on lease or, hire, mortgage , pledge sell or otherwise dispose of, any movable or immovable property; |
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| (c) give grants, endowments or loans for the furtherance of the objects of the Trust with the approval of the Department of Social Services; |
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| (d) appoint, employ, remunerate and exercise disciplinary control over its officers and servants; |
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| (e) open, operate and close bank accounts, and borrow or raise money, with or without security; |
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| (f) invest funds belonging to the Trust at the discretion of the Board in any such investments as are authorized by law for the investment of trust money and to recall, re-invest and vary such investments, at the discretion of the Board, and to collect income accruing from such investments; and |
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| (g) to raise funds both locally and through foreign agencies for the purpose of finding the projects to be undertaken by the Trust. |
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Sri Lanka Consolidated Acts