| (1) |
In the furtherance of its objects, the exercise of its powers, obligations and rights in terms of the Act, the Council shall have, inter alia, the following specific powers: |
| (a) |
to utilise the Council's funds in any such manner as will enable it to comply with its objects, exercise its powers, assert its rights and fulfil its obligations; |
| (b) |
to take over, purchase, lease or otherwise acquire, hold, develop, improve, manage, let, sell, transfer, exchange, mortgage, pledge, grant servitudes, licences, or other rights over, or otherwise dispose of or charge or encumber any property or interest therein, whether moveable or immovable, real or personal, corporeal or incorporeal, and in any part of the world, and to accept (with or without conditions) subsidies, grants, legacies, donations, gifts, and devices, and to erect, construct maintain, enlarge, alter, demolish, or remove any buildings, fences or other erections or works on any immovable property; |
| (c) |
to enter into any contract whatsoever in regard to the property or rights of the Council; |
| (d) |
to invest the moneys of the Council in such manner as it may deem expedient; |
| (e) |
to borrow money for any legitimate purpose on such terms as it may deem expedient, and if necessary to secure the same by mortgage, pledge, charge, debentures, debenture stock or other security charged on all or any of its property; to enter into any guarantee, suretyship or undertaking, and to assume liability for or undertake the debts and engagements of others; |
| (f) |
to open and operate accounts with banks and draw, make, accept, endorse, discount, execute and issue cheques and other negotiable or transferable instruments or securities; |
| (g) |
to establish, subsidise, promote, co-operate or affiliate with or act as trustees or agents for, or manage or grant or lend money or other assistance to any Society or association corporate or incorporate, whose objects are similar to those of the Council, and which prohibits the distribution of its income, capital or assets to its members save by way of agreed remuneration for services rendered, or the reimbursement of expenses incurred for its benefit; |
| (h) |
to investigate, institute and defend proceedings in any court congress, Parliament, council or other forum in any part of the world, and oppose by any lawful means, any legislation, action, proceeding, application or other process which might endanger, impact upon or prejudice the interests or objects of the Council, directly or otherwise; |
| (i) |
to enter into any contract of employment or service with any person and to remunerate any person rendering service to the Council in such manner as it may deem fit; |
| (j) |
to do all such other lawful acts and things as may be incidental or conducive to the powers aforesaid; |
[Clause 3(1) substituted by section 1 of Constitution of Board Notice 223, GG46000, dated 04 March 2022]
| (2) |
The provisions of article 3(1) are not exhaustive and shall not in any way limit the Council's powers or rights in terms of the Act. |
Gas Regulator Levies Act, 2002
