Sri Lanka Consolidated Acts

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Salihiya Thaikka (Incorporation) Act (No. 32 of 1998) - Sect 10

Powers of the Corporation to acquire property, Invest funds, raise loons c

10. It shall be lawful for the Corporation"
(a) to purchase, acquire, rent, construct or otherwise obtain, lands or buildings which may lawfully be required for the Corporation and to deal with or dispose of, the same, as it may deem expedient, with a view to promoting the objects of the Corporation ;
(b) to invest any funds not immediately required for the purposes of the Corporation, in such manner as the Board of Trustees may think fit and to vary and transfer any such investments from time to time ;
(c) to raise or borrow money for any purpose of the Corporation and to secure the discharge of any debt, or obligation of the Corporation in such manner it may think fit;
(d) to solicit, raise and receive, subscriptions, grants, donations and gifts of all kinds, locally and from abroad, for the purposes of the Corporation ;
(e) to construct, alter or maintain, any buildings required for the purposes of the Corporation ;
(f) to subscribe or grant money for any charitable purpose ;
(g) to undertake, accept, execute, perform and administer, any lawful trusts and conditions affecting any real or personal property ;
(h) to establish, organize and maintain, different branches and institutions for the different activities programmes and projects, sponsored and conducted by the Corporation, for promoting the objects of the Corporation ;
(i) to appoint, dismiss or terminate the officers and servants of the Corporation, and to pay them such salaries, pensions, gratuties and allowances as may from time to time be determined by the Corporation ;
(j) so establish or contribute to any fund or scheme for the grant of gratuties, pensions, allowances or other benefits to officers or servants, past or present of the Corporation or to the relatives or dependants of such officers and servants ; and
(k) to enter into any contract with any person, or body persons whether corporate or unincorporate, or any government department or local authority, for promoting the objects of the Corporation.

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