4. General powers of the Corporation

The Corporation shall subject to the provisions of this

Act, or other written law have the power to do, perform and execute all such acts, matters and things whatsoever, as are necessary or desirable for the promotion or furtherance of the objects of the Corporation or anyone of them including the power to open, operate and close bank accounts, to borrow or raise money with or without security, to seek and obtain’

grants and other assistance from the State or any other bodies or organizations, to invest its funds, and to engage, employ and dismiss officers and servants required for the carrying out of the objects of the Corporation.