4. The Institute shall have such powers, rights and functions as may reasonably be necessary to carry out its objects and duties and in particular may-
| (a) 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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| (b) establish and operate management training and education centres; |
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| (c) conduct, assist, co-ordinate and encourage research into all aspects of management; |
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| (d) appoint, employ, remunerate and exercise disciplinary control over its officers and servants; |
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| (e) levy fees or charges for any service rendered by the Institute; |
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| (f) pay fees or charges for any services rendered to the Institute; |
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| (g) import plants machinery and equipment required for the purposes of the Institute, and receive equipment, funds, personnel and any other assistance for carrying out the objects of the Institute: |
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| (h) establish work performance standards for its own personnel, evaluate such performance and take reasonable action thereupon: |
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| (i) establish and maintain welfare and recreational facilities for its employees; |
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| (j) make rules in relation to its officers and servants including the appointment, training, promotion, remuneration, disciplinary control, conduct and grant of leave; |
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| (k) make roles in respect of the general administration of the Institute: |
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| (l) do all other things which are necessary or conducive or incidental to the attainment- of the objectives and functions of the Institute. |
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Sri Lanka Consolidated Acts