Nil

Nil (1) The Authority may, form or participate in the formation of a company or create Special Purpose Vehicles (SPVs) with powers to raise money through equity, for various purposes, including but not limited to, design and construction of buildings related to capital city area, large infrastructure projects, provision of utility services, provision of urban services, design and execution of social infrastructure projects, and land acquisition and augmentation of financial resources. The Authority could participate in such SPVs as an equity or debt holder, and also have specified members of the Authority as members of the Board of such SPVs.

(2) The Authority shall have the power to constitute area level offices as it deems fit and assign responsibilities and functions to such offices. Where the Accountant-General is not the auditor of the Authority, a copy of the audited financial statements and any report made by the auditor shall be forwarded to the Accountant-General at the same time they are submitted to the Authority.