13. Powers of the Corporation

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The Board shall, for the purposes of discharging its functions, have the power—

to grant Joans or financial assistance to individuals and to housing finance corporations ;

to acquire, hold, take on Icase or hire, sell, mortgage or otherwise dispose of, any movable or immovable property ;

to enter into and perform, either directly or through any officer or agent authorised in that behalf, all such contracts or agrcements as may be necessary for that purpose ;

to employ such officers and servants as may be necessary for such purpose ;

to make rulcs in relation to its officers and servants, including thcir appointment, promotion, remuneration, disciplinary control and the grant of

Icave to them ;

to establish a provident fund or pension scheme for its officers and servants, to make contributions to such fund or scheme and to provide welfare and recreation facilitics to such officers and servants ;

to make charges for any services provided by the

Corporation

;

to guarantee any loans or financial accommodation granted to housing finance corporations ;

to underwrite the issue of stocks, shares, bonds, debentures and sccurities of housing finance corporations and companies having as their object, the development of housing ;

Housing Development Finance Corporation of 11

(J to borrow money on such terms and conditions as are recognized as sound financial practice and approved by the Minister in charge of the subject of Finance ;