Sri Lanka Consolidated Acts

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Walagedara Sri Nivasa Pusthakala Piriven Viharastha Sanwardena Samithiya (Incorporation) Act (No. 2 of 1994) - Sect 5

General powers of the Corporation

5. Subject to the provisions of this Act and any other written law the Corporation shall have the power-
(a) to acquire, hold and develop any property movable or immovable which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition or otherwise ;
(b) to sell, mortgage, lease, exchange or otherwise dispose of any such property;
(c) to appoint, employ, remunerate, exercise disciplinary control over, and dismiss, such officers and servants as may be necessary for the purpose of carrying out the objects of the Corporation ;
(d) to receive grants, gifts or donations in cash or kind whether from local or foreign sources ;
(e) to establish branches of the Corporation in Sri Lanka or in any foreign country for the purpose of carrying out the objects of the Corporation ;
(f) to open, operate and close bank accounts and to borrow or raise money with or without such security ;
(g) to invest moneys belonging to the Corporation in such securities as may be determined by the Council ; and
(h) to do all such other acts and things as are incidental or conducive to the carrying out of the objects of the Corporation.


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