7.
| (1) The Corporation shall be able and capable in law to acquire, by purchase, gift, devise, bequest, exchange or in any other manner and to hold, any movable or immovable property and to dispose of any such property acquired or held by the Corporation. |
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| (2) The Corporation shall have the power to borrow or raise money either in Sri Lanka or abroad necessary for the furtherance of its objects and to create, execute, grant or issue any mortgage, bond or obligation to secure the payment of such money. |
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| (3) All property, movable and immovable acquired or held by the Corporation and all moneys paid to or received by the Corporation shall be held, used and applied for the furtherance of its objects and subject to the rules of the Corporation, the Corporation shall have the power to buy, sell, grant, convey, assign, exchange or otherwise dispose of, or mortgage, any such property and invest its funds in such manner as may be necessary or expedient for the furtherance of its objects. |
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Sri Lanka Consolidated Acts