Sri Lanka Consolidated Acts

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Serendib Foundation (Incorporation) Act (No. 12 of 1991) - Sect 9

Corporation may hold property both movable and immovable

9. The Corporation shall be able and capable in law to take over and hold property, both movable and immovable, which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition, or otherwise, and all such property shall be held by the Corporation, for the purposes of this Act, and subject to the rules of the Corporation, with full power to sell, mortgage, lease, exchange or otherwise dispose of the same.


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