4. The Institute shall have the following powers:-
| (a) to acquire and hold, any property, movable or immovable and to sell, lease, mortgage, exchange or otherwise dispose of the same: |
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| (b) to open and maintain, current, savings and deposit accounts, in any bank or banks; |
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| (c) to accept grants or donations, from persons or bodies of persons, in or outside Sri Lanka; |
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| (d) to enter into and perform all such contracts as may be necessary for the exercise of its powers, or the performance of its duties; |
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| (e) to invest any moneys belonging to the Institute including any unapplied income, in any security in 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 to place in fixed deposit in any bank, any portion of such moneys not required for immediate expenditure; |
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| (f) to initiate, promote, conduct and co-ordinate research. surveys and investigations in relation to any aspect of the development of the education ; |
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| (g) to conduct training courses and teaching programmes for teachers and other personnel in the education system and award degrees, diplomas and other academic distinctions to persons who have successfully completed such courses and programmes and have passed the prescribed examinations; |
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| (h) to make grants, to any person or a team of persons or any recognized institute or institutions, for a specific research project or projects related to education; |
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| (i) to establish, equip and maintain centres for the purposes of study and training; |
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| (j) to erect, equip and maintain, for the purposes of the Institute, libraries and laboratories and to provide other services necessary for research and studies in education; |
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| (k) to enter into agreements for co-operation with educational or other institutions, whether in Sri Lanka or abroad, having objects wholly or partly similar to those of the Institute, for the exchange of personnel and students and generally for such purposes as may be conducive to their common objects; |
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| (l) to levy fees or charges for any service rendered by the Institute; |
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| (m) to make rules in respect of the management of the affairs of the Institute; and |
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| (n) to do all such other acts or things which in the opinion of the Institute are necessary for, or conducive or incidental to, the attainment of its objects. |
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Sri Lanka Consolidated Acts