Section 5

Management ‘of activities of the Corporation obtain funds from local or foreign sources and to receive or collect grants or donations in cash or kind ;

invest moneys of the Corporation in such investments that may earn favourable returns, and withdraw the investments and re-invest ;

employ and engage officers and employees required for carrying out the objects of the Corporation, pay them gratuity and other remuneration and exercise disciplinary control over such officers and employees ;

open, operate and close bank accounts and borrow money with or without security ;

to do all such other things suitable or required to accomplish the objects of the Corporation.

The affairs of the corporation shall, subject to the rules of the Corporation made under section 6 be administered by a Board of Management consisting of such number of members as may be provided for in such rules and elected in accordance therewith.

The first Board of Management of the Corporation shall consist of the Members of the Board of Management of the Foundation holding office on the day immediately preceding the date of commencement of this Act.