Chapter III FUNCTIONS AND POWERS OF THE CORPORATION

13. The functions of the Corporation shall be,

1. (i) generally to promote and assist in the rapid and orderly establishment, growth and development of industries in the State of Gujarat and
2. (ii) in particular and without prejudice to the generality of clause
3. (i) to,

1. (a) establish and manage industrial estates at place selected by the State Government ;
2. (b) develop industrial area selected by the State Government for the purpose and make them available for undertakings to establish themselves ;
3. (c) develop land on its own account or for the State Government for the purpose of facilitating the location of industries thereon ;
4. (d) assist financially by loans industries to move their factories into such estates or areas;
5. (e) undertake schemes or works, either jointly with other corporate bodies or institutions, or with Government or local authorities, or on an agency basis, in furtherance of the purposes for which the Corporation is established and all matters connected therewith.

14. Subject to the provisions of this Act the Corporation shall have power,

1. (a) to acquire and hold such property, both movable and immovable as the Corporation may deem necessary for the performance of any of its activities, and to lease, sell, exchange or otherwise transfer any property held by it on such conditions as may be deemed proper by the Corporation;
2. (b) to purchase by agreement or to take on lease or under any form of tenancy any land, to erect such buildings and to execute such other works as may be necessary for the purpose of carrying out its duties and functions;
3. (c) to provide or cause to be provided amenities and common facilities in industrial estates and industrial areas and construct and maintain or cause to be maintained works and buildings therefor;
4. (d) to make available buildings on hire or sale to industrialists or persons intending to start industrial undertakings;
5. (e) to construct buildings for the housing of the employees of such industries; (f)
   • (i) to allot factory sheds or such buildings or parts of buildings, including residential tenements to suitable persons in the industrial estates established or the industrial areas developed by the Corporation;
   • (ii) to modify or rescind such allotments, including the right and power to evict the allottees concerned on breach of any of the terms or conditions of their allotment;
6. (g) to constitute committees from amongst its members to perform any of its functions ;
7. (h) to constitute advisory committees to advise the Corporation ;
   • (i) to engage suitable consultants or persons having special knowledge or skill to assist the Corporation in the performance of its functions ;
8. (j) subject to the previous permission of the State Government, to delegate any of its powers generally or specially to any of its committees or officers and to permit them to re-delegate specific powers to their subordinates ;
9. (k) to enter into and perform all such contracts as it may consider necessary or expedient for carrying out any of its functions; and
10. (l) to do such other things and perform such acts as it may think necessary or expedient for the proper conduct of its business and the carrying in to effect the purposes of this Act.

15. All permissions, orders, decisions, notices and other documents of the Corporation shall be authenticated by the signature of the Chief Executive Officer of the Corporation or any other Officer authorised by the Corporation in this behalf.

1. (1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money in the open market or otherwise with a view to providing itself with adequate resources.
2. (2) All moneys borrowed under sub-section
3. (1) may be guaranteed by the State Government as to the repayment of principal and the payment of interest at such rates and such conditions as the State Government may determine at the time the moneys are borrowed.

The Corporation may accept deposits on such conditions as it deems fit from persons, authorities or institutions to whom allotment or sale of land, buildings or sheds is made or is likely to be made in furtherance of the objects of this Act.

1. (1) The Corporation shall make provision for such reserve and other specially denominated funds and in such manner and to such extent as the State Government may, from time to time, direct.
2. (2) The management of the funds referred to in sub-section (1), the sums to be transferred from time to time to the credit thereof, and the application of money comprised therein, shall be determined by the Corporation.
3. (3) None of the funds referred to in sub-section
4. (1) shall be utilised for any purpose other than that for which it was constituted, without the previous approval of the State Government.