Amendment status not verified — confirm the current text below against the official source.
General powers of the Corporation.— Subject to the provisions of this Act, the Corporation shall have power— (a) to acquire and hold such property, both movable and immovable, as the Corporation may deem necessary for the performance of any of its activities and to lease, sell, exchange or otherwise transfer any property held by it on such conditions as may be deemed proper by the Corporation; (b) to constitute advisory committee to advise the Corporation; (c) to engage suitable consultants or persons having special knowledge or skills to assist the Corporation in the performance of its functions; (d) subject to the previous permission of the Government, to delegate any of its powers generally or specially to any of its committees or Officers, and to permit them to re-delegate specific powers to their subordinates; -6- (e) to enter into and perform all such contracts as it may consider necessary or expedient for carrying out any of it’s functions; (f) to enter into any trade and business and invest the surplus money with the aim of earning profit for strengthening the financial position of the Corporation and spend it for achieving the aims and objects of the Corporation; and (g) to do such other things and perform such acts as it may think necessary or expedient for the proper conduct of its functions and carrying into effects the purposes of this Act.