7. Powers of the Board

The Board shall subject to the provisions of this Act or any other written law, have the power–

to receive grants, gifts and donations, both movable and immovable in cash or in kind, whether from local or foreign sources:

to acquire or hold any property, movable or immovable, which may become vested in the Trust by this Act or by virtue of any purchase, gift, grant, testamentary disposition or otherwise and, for the purpose of this Act to sell, mortgage, lease, grant, convey, device, assign, exchange or otherwise dispose of any property to which the Trust may become entitled to;

to enter into and perform, either directly or through officers, employees and agents authorized 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 of the Trust; and

to open, operate and close bank accounts in any