4. General powers of e Foundation

Subject to the provisions of this Act and any other written law, the Foundation shall have the power to do, perform and execute all such acts, matters and things whatsoever as are necessary or desirable for the promotion or furtherance of the objects of the Foundation or any one of them including the power to open, operate and close bank accounts, to borrow or raise moneys with or without security, to receive or. collect grants and donations, to in-

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vest its funds and to engage, employ and dismiss personnel required for the carying out of the objects of the Corpora-tion.

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