5. Powers of the Corporation

The Corporation shall, subject to the provisions of this Act, have the following powers :—

to acquire and hold property, movable or immovable, by virtue of any purchase, grant, gift, testamentary disposition or otherwise, and subject to any trust attaching to such property, to sell, mortgage, lease, exchange or otherwise dispose of the same;

to enter into and perform, all such contracts as may be neccessary for carrying out the objects of the

to receive or collect gifts, grants or donations, in cash or kind, from local or foreign persons or organizations ;

to make, draw, accept, endorse, negotiate, buy, sell and issue, bills of exchange, cheques, promissory notes and other negotiable instruments and to open and maintain, current, savings and deposit accounts in any bank or banks ;

to borrow, with or without security, moneys necessary for carrying out its objects ;

to invest any moneys belonging to the Corporation including any unapplied income as determined by the Committee of Management ;

to appoint such officers and servants as may be necessary for carrying out its objects ; and

to make rules in relation to all matters connected with the working of the Corporation and to make such rules as are not inconsistent with the provisions of this Act or any other written law, and to alter, vary, rescind them.