4. General powers of the Corporation

Subject to the provisions of this Act and any other written law the Corporation shall 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 any one of them including the power to —

open, operate and close bank accounts ;

borrow or raise moneys with or without security;

receive or collect grants and donations ;

invest funds not immediately required by the

engage, employ and dismiss officers and servants.