4. The Institute shall have such powers, rights and functions as may reasonably be necessary to carry 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; |
|
| (b) appoint, employ, remunerate and exercise disciplinary control over its, officers and servants ; |
|
| (c) establish and maintain welfare and recreational facilities for its employees; |
|
| (d) make rules in respect of the administration of the affairs of the Institute; |
|
| (e) enter into and perform, either directly or indirectly, all such contracts or agreements as may be necessary for the exercise of the powers of the Institute and the carrying out of the objects of the Institute ; |
|
| (f) borrow money for the purposes of the Institute in such manner and upon such security as the Institute may, with the approval of the Board of Directors, determine, and to invest the surplus moneys of the Institute; |
|
| (g) import plant, machinery, equipment and any other articles as may be required for the purposes of the Institute, and recieve equipment, funds, personnel and any other assistance for carrying out the objects of the Institute; |
|
| (h) delegate to any member, the General Manager of the Institute or any employee or agent, such functions as the Board of Directors may consider necessary for the efficient transaction of its business ; |
|
| (i) establish work performance standards for its own personnel, evaluate such performance and take reasonable action thereon; |
|
| (j) levy fees, receive and disburse moneys for the accomplishment of the objects of the Institute; and |
|
| (k) do all other things which are necessary or conducive or incidental to the attainment of the objects and functions of the Institute. |
|
|
Sri Lanka Consolidated Acts