4. For the purpose of carrying out its objects the Academy may exercise, perform and discharge all or any of the following powers, duties and functions:
| (a) to receive grants, gifts or donations, whether from local or foreign sources; |
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| (b) to take or hold any movable or immovable property which may become vested in it by this Act 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 such movable or immovable property; |
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| (c) to enter into and perform or carry out, whether directly or through any officer or agent authorized in that behalf by the Academy, all such contracts or agreements as may be necessary for the attainment of the objects of the Academy;. |
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| (d) to borrow or raise money for the purposes of the Academy in such manner and upon such security as the Board of Management may think fit; |
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| (e) to appoint suck employees and agents as are necessary for carrying out the functions of the Academy; |
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| (f) to invest its funds in such manner as the Board of Management may think fit; and |
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| (g) to do all such, acts as are necessary for, conductive or incidental to the attainment of its objects- |
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Sri Lanka Consolidated Acts