| (2) Without prejudice to the generality of the powers conferred by sub-section (1), the Corporation shall have power
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| (a) to acquire in any manner whatsoever and hold, take or give on lease or hire, mortgage, pledge, sell or otherwise dispose of, any immovable or movable property; | | |
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| (b) to appoint, employ, remunerate and control its officers, servants and agents, and to direct and decide all matters connected with the administration of its affairs; | | |
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| (c) to establish and maintain provident funds and pension funds and provide welfare and recreational facilities, houses, hostels and other like accommodation, for the persons employed by or serving the Corporation; | | |
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| (d) to enter into and perform, either directly or indirectly, through any officer or agent of the Corporation all such contracts or agreements as may be necessary for the exercise of the powers of the Corporation and the carrying out of the objects of the Corporation; | | |
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| (e) to make rules in respect of the administration of the affairs of the Corporation; | | |
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| (f) to borrow money for the purposes of the Corporation in such manner and upon such security as the Corporation may with the approval of the Minister determine, and to invest the surplus funds of the Corporation; | | |
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| (g) to delegate to any member, officer or agent of the Corporation any such function of the Corporation as the Corporation may consider necessary so to delegate for the efficient transaction of business; | | |
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| (h) to do anything necessary for the purpose of advancing the skill of persons employed by the Corporation, or the efficiency of the equipment of the Corporation, or the manner in which that equipment is operated, including the provision by the Corporation, and the assistance of the provision by others of facilities for training persons required to carry out the work of the Corporation; | | |
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| (i) to formulate schemes to give effect to the objects of the Corporation; | | |
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| (j) to receive and disburse moneys for the accomplishment of the objects for which it is established; | | |
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| (k) to invest in, or purchase or compulsorily acquire any interest in, or hold shares or stock, in any body, corporate or unincorporate, carrying on or engaged in, or about to carry on or engage in, any business, being a body corporate or unincorporate having objects similar or substantially similar to the objects of the Corporation; | | |
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| (l) to purchase or compulsorily acquire any interest in any business carried on by any individual, being a business having objects similar or substantially similar to the objects of the Corporation; | | |
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| (m) to enter into any arrangement for co-operation with any body corporate, firm or individual carrying on or proposing to carry on any business which is similar or substantially similar to any Specified Business of the Corporation; | | |
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| (n) to amalgamate with any other body, corporate or unincorporate whose objects are or include objects similar or substantially similar to those of the Corporation, whether by sale,. purchase or compulsory acquisition of the undertaking of such body corporate or unincorporate, subject to the liabilities of such body corporate or unincorporate, or by sale, purchase, or compulsory acquisition, of all, or a controlling interest in, the shares or stock of such body corporate or unincorporate; | | |
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| (o) to amalgamate with any individual carrying on any undertaking the objects of which are or include objects similar or substantially similar to those of the Corporation, whether by sale, purchase or compulsory acquisition of the undertaking, subject to the liabilities incurred by such individual in carrying on the undertaking. | | |
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Sri Lanka Consolidated Acts