7. movable and immovable. General powers of the Corporation

Subject to the provisions of this Act or any other written law the Corporation shall have the power to do, per-form, and execute all such acts, matters and things whatso-ever as are necessary or desirable for the promotion or fur-therance of the objects of the Corporation or any one of them, including the power to open, operate and close bank accounts, to borrow or raise moneys, with or without secu-rity, to receive or collect grants and donations, to invest its funds and to engage, employ and dismiss officers and servants required for the carrying out of the objects of the

The powers conferred on the Corporation by section 6 and subsection (1) of this section shall be exercised by the Council of Manageinent.