6.
| (1) The Foundation shall subject to the provisions of this Act, have the following powers : -
| | (a) to acquire and hold property, movable or immovable, which may become vested in it under this Act or by virtue of any purchase, grant, gift, testamentary disposition or otherwise, and subject to any trust attaching to such property, to sell, mortgage, lease, exchange or otherwise dispose of the same : | | |
| | (b) to enter into and perform, all such contracts as may be necessary for carrying out the objects of the Foundation ; | | |
| | (c) to receive or collect, gifts, grants or donations, in cash or kind, from local or foreign persons or organisations ; | | |
| | (d) to make, draw, accept, endorse, negotiate, buy, sell and issue, hills of exchange, cheques, promissory notes and other negotiable instruments and to open and maintain, current, savings, and deposit accounts in any bank or banks ; | | |
| | (e) to borrow, with or without security, moneys necessary for carrying out its objects ; | | |
| | (f) to invest any moneys belonging to the Foundation including any unapplied income, in any security which under the provisions of section 20 of the Trusts Ordinance (Chapter 87), or of any other written law, it is lawful to invest trust moneys, or to invest any such moneys in the purchase of immovable property in Sri Lanka, or vary such investments or place in fixed deposits in any bank, any portion of such moneys not required for immediate expenditure ; | | |
| | (g) to appoint such officers and servants as may be necessary for carrying out its objects ; and | | |
| | (h) to make rules in relation to all matters connected with the working of the Foundation. | | |
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Sri Lanka Consolidated Acts