For the purpose of attaining its objects, the Bank shall have the power—
| (a) |
to appraise, approve or mobilise wholesale funding, as determined in the regulations, for, and to monitor the implementation of, development projects and programmes; |
| (b) |
to lend or advance money to any person or private or public body engaged in or proposing to engage in development projects and programmes in the region; to acquire an interest in it or to provide capital for it, or by underwriting or otherwise, to assist in the acquisition of capital for it; |
| (c) |
to hold, manage, develop, let, hire, buy, subscribe to, or otherwise acquire, or to sell or otherwise dispose of, hypothecate or otherwise deal in immovable or movable property, including stocks, shares, bonds, debentures and securities of, or any other interest in, any company, and if necessary to act as trustee for debenture holders; |
| (d) |
to make, draw, accept or endorse negotiable instruments; |
| (e) |
to guarantee any undertaking given in relation to the financing of any person, private or public body, or the performance of any contract by any person, private or public body, or to indemnify any person, public or private body in respect of the costs attaching to legal proceedings or in respect of any loss or damage, arising from— |
| (i) |
the financing of such person or private or public body; or |
| (ii) |
the entering into of any contract by such person, private or public body; |
| (f) |
to receive grants and donations, issue debentures or debenture stock or otherwise to raise wholesale loans, as determined in the regulations, or borrow money, provided the amount owing at any time in respect of loans raised or moneys borrowed shall not, without the approval of the shareholders of the Bank, previously given at a meeting of those shareholders, at any time exceed the limitations set by regulation; |
| (g) |
to act as an agent or trustee, manager or secretary of any person, national or international private or public body, and to appoint any person to act on behalf of the Bank as a director or in any other capacity in relation to such person, private or public body, irrespective of whether or not such person carries on business within the region or elsewhere; |
| (h) |
to establish, within the region or elsewhere, any juristic person capable of exercising, performing or carrying out such powers, functions and duties as may or shall be exercised, performed or carried out by the Bank in terms of this Act, and to open offices within the region and elsewhere; |
| (i) |
to provide technical and other assistance and to give advice, information and guidance, |
and, generally, to enter into any contract or perform any act, whether within the Republic, region or elsewhere, which may promote the attainment of any of the objects of the Bank, or which is designed to directly or indirectly enhance the value of the services which the Bank can render in relation to the development of the region.
Statistics Act, 1999
