7.
| (1) The Foundation shall have the power to do all things necessary for or conducive or incidental to the carrying out of the objects of the Foundation. |
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| (2) Without prejudice to the generality of the powers conferred by subsection (1), the Foundation shall have the following powers and functions: -
| | (a) to receive grants, gifts or donations in cash or kind, whether from local or foreign sources; | | |
| | (b) to take or hold any property movable or immovable which may become vested in it by this Law or by virtue of any purchase, grant, gift, testamentary disposition or otherwise, and to sell, mortgage, lease, grant, convey, devise, assign, exchange or otherwise dispose of any movable or immovable property other than the Hall; | | |
| | (c) to give grants, endowments or scholarships for educational and cultural purposes; | | |
| | (d) to enter into or perform either directly or through officers and servants or agents authorized in writing in that behalf of the Foundation, all such contracts and agreements as may be necessary for the exercise, discharge and performance of the powers and functions and carrying out the objects of the Foundation; | | |
| | (e) subject to the provisions of this Law, to appoint, employ and remunerate officers and servants of the Foundation; and to make rules regarding the appointment, promotion, remuneration and disciplinary control of its employees, and the grant of leave and other benefits to them; | | |
| | (f) to make rules in relation to the management and maintenance of the Hall and the levy of charges for the use of the Hall or any part thereof, or for the public viewing of the Hall or any part thereof; | | |
| | (g) to invest funds belonging to the Foundation at the discretion of the Board in any such investments as are authorized by law for the investment of trust money, and to recall, reinvest, and vary such investments, at the discretion of the Board, and to collect the income accruing from such investments; and | | |
| | (h) to make rules in relation to all matters connected with the working of the Foundation. | | |
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Sri Lanka Consolidated Acts