Powers and functions of the Board.

The Board shall have the following powers and functions, namely:- (a) to formulate the criteria on the basis of which transport facility projects are to be financed out of the Fund; (b) to take such measures as may be necessary to raise funds for transport facility projects; (c) to raise funds by borrowing money necessary for the due discharge of its functions; and (d) to perform such other functions as may be prescribed.