Clause 12

with the written approval of the Minister, to underwrite the issue of stocks, shares, bonds or debentures by industrial enterprises;

with the written approval of the Minister, to guarantee on such terms and conditions as may be agreed upon, loans raised by industrial enterprises which —

are repayable within a period not exceeding twenty-five years; or

are floated in the public market;

to grant loans or advances to, or subscribe to stocks, shares, bonds or debentures of industrial enterprises;

to manage, control or supervise industrial enterprises by nominating directors or advisers or otherwise collaborating with them or entering into partnerships or any other arrangement for jointly working with them;

with the written approval of the Minister, to establish, sell shares of, invest in and manage industrial enterprises;

to act as agent for the Government or, with its approval, for any other person in the transaction of any business with an industrial enterprise in respect of loans or advances granted or debentures subscribed by the Government or such other person;

to acquire, sell or lease land for the purposes of industrial sites, for the housing of employees or for general economic development;

to lay out industrial estates for sale or lease;

to provide technical advice and assistance to industrial enterprises and to build up a corps of engineering and managerial staff to provide such assistance;

to exercise all functions and powers and perform all duties which, under or by virtue of any other written law, are or may be or become vested or delegated to it;

to receive in consideration of the services rendered by it such commission as may be agreed upon; and

generally to do all such matters and things as may be incidental to or consequential upon the exercise of its powers or the discharge of its duties under this Ordinance.