7.
| (1) The Board shall, in the name of the Fund, have the power to do all things necessary for or conducive or incidental to the carrying out the objects of the Fund. |
|
| (2) Without prejudice to the generality of the powers conferred by subsection (1), the Board shall have following powers :"
| | (a) to arrange for the conduct of a Lottery called and known as "Shrama Vasana" by the National Lotteries Board, to raise moneys for the purpose of carrying out the objects of the Fund ; | | |
| | (b) to receive grants, gifts or donations in cash or kind, whether from local or foreign sources ; | | |
| | (c) to acquire and hold any property, movable or immovable, by way of purchase, grant, gift, donation, bequest, or otherwise; | | |
| | (d) to sell, mortgage, lease, grant, convey, devise, assign, exchange or otherwise dispose of, any such property ; | | |
| | (e) to enter into and perform, any such contracts as may be necessary for the proper exercise of its powers and the discharge of its functions or for carrying out the objects of the Fund ; | | |
| | (f) to appoint, terminate the appointment of, remunerate, and exercise disciplinary control over, and its officers and servants ; | | |
| | (g) to erect, or cause to be erected, any building or structure on any land belonging to or held by the Fund ; | | |
| | (h) to invest money belonging to the Fund at the discretion of the Board and to collect the income accruing from such investment; | | |
| | (i) to open, operate and close bank accounts and to borrow or raise money, with or without security, for the purposes of the Fund ; | | |
| | (j) to do all such other acts and things as are incidental or conducive to the carrying out of the objects of the Fund. | | |
|
|
|
Sri Lanka Consolidated Acts