Section 10

to acquire, take, hold and enjoy, whether as owner or by way of security, and may sell, convey, transfer, assign, re-convey, re-assign, surrender or otherwise deal with or dispose of movable and immovable property of every description;

to enter into or modify any contracts or agreements which may be necessary for carrying out the objects of the

Foundation;

subject to the Public Collections Ordinance, 1996

[Cap. 21], from time to time to raise public subscriptions or make public collections for the Fund;

[Am. Cap. 21.]

generally to do all such things as a body corporate may by law perform and which are necessary for carrying out the objects of the Foundation;

to carry on such activities as the Board deems fit and proper to generate income or revenue for the Fund;

[Sub. Ord. No. 4/92.]

to promote the carrying on of any such activities and for that purpose to establish or expand or promote the establishment or expansion of other bodies to carry on any such activities either under the control or partial control of the

Board, or independently, and to give assistance to such bodies or

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Ord. No. 4/71

to other bodies or persons appearing to the Board to have facilities for the carrying on any such activities, including financial assistance by taking up of share or loan capital or by loan or otherwise;

to purchase, underwrite or otherwise acquire any stock and shares in any public or private company, and to dispose of them on such terms and conditions as the Board may determine;

to establish and maintain training institutions;

to do all acts which the Board considers desirable or expedient;

to borrow from time to time at such rate of interest and for such period and upon such terms as to the time and method of repayment and otherwise as the Board may approve any sums required by the Foundation for meeting any of its obligations or discharging any of its duties;

to enter into any transaction (whether or not involving expenditure, borrowing, granting of loans or investment of money under this Ordinance, the acquisition, use and disposal of any movable or immovable property, including vehicles and vessels, or rights) which in the opinion of the Board is calculated to facilitate the proper discharge of its duty or is incidental or conducive to it;

to become agent or to employ and pay agents and technical advisers including advocates, and solicitors, bankers, stockbrokers, surveyors or valuers or other persons, to transact any business or to do any act required to be transacted or done in the execution of its duties or for the better carrying into effect the purposes of this Ordinance;

to establish from time to time a corporation by such name as the Board may think fit to carry out and have the charge, conduct and management of any project, scheme or enterprise which has been planned or undertaken by the Board in execution of its duty or discharge of its functions in pursuit of the objects of the Foundation;

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to make loans and any such loans may be granted subject to such terms and conditions as the Board may deem fit to impose in particular cases;

to carry on the business of carriers by air, sea, river, canal, and otherwise; and

to establish institutions of learning and to maintain them.

The Board may delegate any of the powers and duties conferred or imposed upon it by any of the provisions of this

Ordinance to any subcommittee consisting of members of the Board and the Director shall be entitled to attend the meetings of any such subcommittee and to speak, but not to vote, on any matter under discussion:

Provided that any such delegation shall be exercised by the sub-committee concerned subject to any general or special directions which may from time to time be given by the Board.

Appointment, etc., of Director and staff