Sri Lanka Consolidated Acts

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Sri Lanka Sumithrayo (Incorporation) Act (No. 10 of 1986) - Sect 4

Powers of the Corporation

4. Subject to the provisions of this Act and any other written law, the Corporation shall have the power :-
(a) to accept grants or donations, from persons or bodies of persons, in or outside Sri Lanka;
(b) to open and maintain current, savings and deposit accounts in any bank and to invest its funds in such securities as it may think fit ;
(c) to enter into and perform, all such contracts and agreements as may be necessary for the attainment of the objects of the Corporation ;
(d) to borrow for the purposes of the Corporation, with or without security ;
(e) to appoint such officers and servants as may be necessary for the purposes of the Corporation and to dismiss and take disciplinary action against, any officer or servant so appointed ;
(f) to do all such acts and things as may be necessary for the attainment of the objects of the Corporation.


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