6. Powers and functions of the Foundation

The Board shall in the name of the Foundation have the power —

to receive grants, gifts or donations in cash or kind ;

to take or hold any property movable or immovable by way of purchase, grant, gift, testamentary disposition or otherwise, and to sell, mortgage, lease, rent, grant, convey, devise, assign, exchange or otherwise dispose the same ;

to give grants, endowments or scholarships for economic, educational, cultural, social, aesthetic and sports development and vocational development purposes ;

to obtain loans on such terms and conditions as may be approved by the Board for the purpose of carrying out the objects of the Foundation ;

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

to charge fees for any services or facilities provided by the Foundation ;

subject to the provisions of this Act, to appoint and employ officers and servants as may be necessary for the carrying out of the objects of the Foundation and remunerate them and to dismiss and exercise disciplinary control over them ;

to manage and maintain the Thondaman Cultural

to invest funds belonging to the Foundation at the discretion of the Board in any such investments as are authorized by law for the investment of such money, and to recall, re-invest, and vary such investment, and to collect the income accruing from such investments ;

to appoint committees to assist the Foundation in performance of its functions and achievement of its objectives ; and

to do all things as are necessary for or conducive or incidental to the carrying out of the objectives of the Foundation.