Powers of the Corporation

Powers of the Corporation.--(1) The Corporation shall, subject to the provisions of this Act, have power to do all such acts as may be necessary or expedient for carrying out its functions under this Act.

1. (2) Without prejudice to the generality of the foregoing provisions such power shall include the power,--
   • (a) to purchase, maintain and manage immoveable and moveable properties;
   • (b) to enter into such contract or contracts with any person as the Managing Director may deem necessary for its efficient performance under this Act.