State Agricultural Corporations Act 1972 (No. 11 of 1972).

The Minister may by Order published in the Gazette (a) specify the agricultural undertaking to which the Order relates; (b) declare the purposes for which the establishment of the Corporation is deemed necessary; (c) assign a corporate name to the Corporation and specify its objects; (d) state the initial capital, the principal business, the number of members of the Board of Directors; (e) appoint the members, the Chairman and the Deputy Chairman of the Board of Directors. For the purpose of achieving its objects the Corporation shall: (a) acquire, take or give on lease or hire, mortgage or otherwise dispose of, any movable or immovable property; (b) appoint, employ, remunerate and control its officers, servants and agents; (c) establish, maintain and provide welfare and recreational facilities; (d) enter into contracts or agreements as may be necessary for the exercise of the powers and objectives of the Corporation; (e) formulate development schemes.