5. Powers of the Corporation

Without prejudice to its powers as prescribed in its Memorandum and Articles of Association, the Corporation shall have power to do all things expedient or necessary for, or incidental to, the carrying out of its functions, and in particular, but without prejudice to the generality of the foregoing provisions—

to collect and recover or cause to be collected and recovered all moneys due to the Fund;

to establish guidelines for the processing of applications to the Fund for financial assistance;

to determine the terms and conditions for the making of grants or loans from the Fund, including the amounts that may be approved in respect of each application;

to determine the proportion of monies of the Fund which should be used for grants or for loans, including the proportion that should be provided in the form of a grant or by way of a loan in respect of each approved application;

to organize, establish, upgrade and maintain, or to assist in the organization, establishment, upgrading and maintenance of, training facilities;

to organize and supervise, or to assist in the organization and supervision of, the implementation of training courses, projects and programmes;

to examine any records, accounts and any other document relating to the grant, loan or any other benefit granted under this Act to any employer to ensure the grant, loan or other benefit is utilized for the purpose it is granted;

to obtain any information from employers to ascertain whether they are required to register under this Act;

to employ and pay agents, advocates and solicitors, bankers, stockbrokers or any other persons to transact any business or do any act required to be transacted or done in the exercise of its powers or in the carrying out of its duties or for the better carrying into effect of the purposes of this Act;

to grant loans or make advances to its officers and servants from the Fund for such purposes as may be approved by the Minister and on such terms and conditions as the Corporation shall determine;

to grant loans or make grants from the Fund on such terms and conditions as the Corporation shall determine to any training provider who in the opinion of the

to grant loans or make grants from the Fund on such terms and conditions as the Corporation shall determine to any employers’ association to be used for the development of human resources of its members;

to prescribe procedures to be followed in matters relating to finance and accounts of the Fund; and

to do such other thing as may be expedient or necessary for the efficient management and administration of the