6. Powers and Functions of the Fund

to raise funds and to receive grants, gifts or donations whether from local or foreign sources;

to take or hold any property, movable or immovable, which may become vested in it by this Act or by virtue of any purchase, grant, gift, testamentary disposition or otherwise, and to sell, mortgage, lease, grant, convey, devise, assign, exchange or otherwise dispose of any property to which the Fund may become entitled;

to give grants, endowments, or scholarships locally and abroad, for the furtherance of the objects of the

to conduct lotteries subject to any law for the time being in force to collect moneys for the furtherance of the objects of the Fund;

to enter into and perform either directly or through officers and servants or agents authorized in writing in that behalf by the Board, all such contracts and agreements as may be necessary for the exercise, performance and discharge of the powers, duties and functions and for carrying out the objects of the Fund;

subject to the provisions of this Act, to appoint, employ and remunerate officers and servants of the

to erect or caused to be erected any building or structure on any land belonging to or held by the

to invest moneys belonging to the Fund at the discretion of the Board in any such investments as are authorized by law for the investment of money

to open, operate and close bank accounts and to borrow or raise money with the property of the Fund as security or without such security, for the purposes of the Fund.