14.
| (1) The Board shall in the name of the Fund have the power to take all measures necessary for. or conducive or incidental to. carrying out of the objects of the Fund. |
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| (2) Without prejudice to the generality of the powers conferred by subsection (1) the Board shall have the following powers :"
| | (a) to acquire in any manner whatsoever and to hold, take or give on lease or hire, mortgage, pledge, sell or otherwise dispose of, any movable or immovable property ; | | |
| | (b) to enter into and perform or carry out. whether directly or indirectly through any officer or agent authorised in writing in that behalf by the Board, all such contracts or agreements as are necessary for carrying out of the objects of the Fund ; | | |
| | (c) to construct, manufacture, maintain and repair, anything necessary for the carrying out of the objects of the Fund ; | | |
| | (d) to purchase, transport, store, supply and maintain. any commodity, equipment or machinery necessary for the carrying out of the objects of the Fund: | | |
| | (e) to appoint, employ, remunerate and exercise disciplinary control over, such officers and agents as may be necessary for carrying out of the objects of the Fund ; | | |
| | (f) to establish and maintain pension or provident fund schemes for the benefit of rubber smallholders and to insure members of the Fund, against any risks: | | |
| | (g) to train members, officers and servants of the Fund: | | |
| | (h) to establish and maintain welfare and recreational facilities, hostels and other like accommodation for the officers and servants of the Fund : | | |
| | (i) to open, operate and close bank accounts and to borrow or raise money with the property of the Fund as security or without security, for carrying out the objects of the Fund : | | |
| | (j) to levy fees or other charges for services performed, or facilities or equipment provided, by the Fund : | | |
| | (k) to provide assistance, including financial assistance by way of loans or grants to any Thrusaviya Society registered under this Act or to any person or body of persons engaged in the cultivation of rubber in smallholdings or in the processing- manufacturing or marketing of rubber; | | |
| | (l) to manage or participate in the management of, rubber lands, processing units, and rubber factories and to participate in the marketing of rubber or in any other venture related to the rubber industry ; | | |
| | (m) to invest such of the moneys of the Fund as are not immediately required for its purposes, in such securities as the Board may consider fit and to transfer or sell such securities ; | | |
| | (n) to issue shares of the Fund to its members ; | | |
| | (o) subject to the provisions of this Act, to make regulations in respect of the administration of the affairs of the Fund, financial procedure, the registration of Thurusaviya Societies, applications for registration, the conditions and restrictions subject to which such societies shall be registered, appeals against refusal of registration, provisions to be included in the by-laws of the societies applying for registration (including provisions as to qualifications for membership of the Executive Committee of a society, the register of members of the society, declaration of profits of the society, meetings of the society and of the Executive Committee thereof, audit and accounts of the society, settlement of disputes between the society and a member of the society by arbitration, grounds for cancellation of registration and appeals from orders of cancellation, liquidation after cancellation of registration, powers of a liquidator and enforcement of orders made by liquidators); | | |
| | (p)
| | | (i) to require any person to maintain true and accurate records, in such form and containing such particulars as may be specified by the Board, relating to any matter as may be necessary for the carrying out of the objects of the Fund or the exercise of the powers of the Board ; |
| (ii) to require any person to furnish, within a specified period of time, all such returns, information and explanations as are within the knowledge of that person relating to any matter as may be necessary for the carrying out or the objects of the Fund or the exercise of the powers of the Board ; |
| (iii) to require any person to produce, or cause to be produced, before a specified date such documentary or other evidence as the Board may require for the purpose of verifying any facts entered in any record maintained under sub-paragraph (i) or stated in any return, information or explanation furnished under sub-paragraph (ii) : |
| (iv) to enter and inspect, at any reasonable time, any land, building, office, store, factory, shed or "premises for the purpose of examining and verifying any records required to be maintained under sub-paragraph (i) or for the purpose of verifying any particulars contained in any return or information or explanation furnished to the Board under sub-paragraph (ii) or (iii) or far the purpose of inspecting and checking stocks. |
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| (3) Any person who fails, without reasonable cause, to comply with the provisions of sub-paragraph (i) or sub-paragraph'(ii) or sub-paragraph (iii) of paragraph (p) of subsection (2), or who knowingly maintains any false records or knowingly furnishes any false returns, information, explanations, or documentary 7 or other evidence, or who obstructs the Board in the exercise of the powers conferred on it by sub-paragraph (iv) of paragraph,(p) of subsection (2), shall be guilty of all offence under this Act. |
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Sri Lanka Consolidated Acts