Powers of the Authority

(1) Notwithstanding anything contained in any other law for the time being in force, the Authority shall have the following powers, namely:- (a) accept, acquire, hold, surrender, transfer or re-convey security (including security provided in a financing arrangement) of any kind in any form whatsoever; (b) borrow, lend, fund and/or facilitate financing of all Urban Mobility related investment seeking funds managed by the Authority, for the implementation of the projects, plans, schemes, and proposals included in the City Mobility Investment Program to ensure development of comprehensive, integrated and planned Urban Mobility in the Urban Mobility Region;