General powers of the Authority
(1) Subject to the provisions of this Act, the Authority may—
(a) in accordance with any general or special directions of the Minister carry out, in relation to land or buildings or any interest therein vested in the Government, any purpose which could properly be included in relation to property acquired for the purposes of the development of housing;
(b) upon such terms and conditions as the Authority may deem fit guarantee or join in guaranteeing the payment of interest and capital on monies borrowed by a person of the working class to purchase a dwelling-house or to erect a dwelling-house for his or her own use upon land being land the property of
such person, or the property of the Authority or the Government and let or leased to such person;
(c) invest at its discretion, in any securities authorised by law for the time being for the investment of trust funds, any monies (whether consisting of capital or income) at any time at the disposal of the Authority and not immediately required by the Authority for the purchase of property or the construction of buildings or any other purpose authorised by this Act;
(d) acquire, hold, mortgage, lease and dispose (whether by way of outright sale or hire purchase or by any other method) of land and property (whether movable or immovable), subject to such covenants and conditions as the Authority may think fit;
(e) make loans to eligible persons on such conditions as the Authority may require for any or all of the purposes described in section 15;
(f) engage in any business or other activity carried on for the purpose of promoting or carrying out the development of housing and land for residential, business or community purposes or in respect of a development, including, with the approval of the Minister, investing or taking shares in a company, and undertaking any joint venture with a person, company or statutory body, and may otherwise collaborate or join with a company, statutory body, agency or person, in furtherance of the purposes and provisions of this Act;
(g) construct, repair, reconstruct or extend any home, building or road by means of employees or independent contractors or aided self-help or any other means;
(h) lease or sell or otherwise dispose of lots for dwellings, with or without services or erections thereon;
(i) import, purchase, hire, manufacture or otherwise acquire materials or equipment to be used for the purposes of the Authority (except for the purposes of a civil service housing scheme) free from all customs and other duties, taxes, or licence fees; but if materials or equipment imported by the Authority to be used for a purpose which entitled the Authority to freedom from customs duty under this Act are in fact used for another purpose, or are sold or otherwise transferred by the Authority without being used by it, the full duty on such materials or equipment or such lesser amount as the Comptroller of Customs and Excise may lawfully impose shall be payable by the Authority;
(j) assist the Government or any person or body of persons, financially or otherwise, towards the provision of housing for residential, community or business purposes;
(k) purchase or otherwise acquire or take or lease or rent any land or building on
which there is a charge in favour of the Authority;
(l) carry out or secure the laying out and development of a designated area and the laying out, construction and maintenance of buildings and engineering operations as may appear to be necessary or desirable within a designated area;
(m) engage or retain independent legal counsel in the carrying out of its functions or duties under this Act;
(n) with the consent of the Minister, borrow or raise or secure the loan of monies; and an amount borrowed by the Authority under the powers conferred by this section may be guaranteed by the Minister responsible for finance and, in default of repayment by the Authority, the amount borrowed shall be charged on the Consolidated Fund.
