Clause 5

receive deposits that are repayable either on demand or otherwise;

advance and lend money to, or give a guarantee for the benefit of, any person having an account with the Bank;

construct, manufacture, produce, purchase, take on hire or hire-purchase, install, maintain and repair anything required for the purposes of its business;

enter into and carry out agreements with any person (including the Government) for the carrying on by him, whether as agent or otherwise, of any of the activities which the Bank may carry on or for the carrying on jointly by him and the Bank of any of those activities;

acquire land which is required by it for, or in connection with, the exercise of its powers or as to which it can reasonably be foreseen that it will be so required;

dispose (whether absolutely or for a term of years) of any part of its undertaking or any property which in its opinion is not required by it for or in connection with the exercise of its powers, and in particular, to dispose of an interest in, or right over, any property which, subject to that interest or right, is retained by it;

for the purposes of its business subscribe for or acquire any of the securities of an incorporated company or other body corporate, procure its admission to membership of an incorporated company limited by guarantee and not having a share capital, promote the formation of an incorporated company or participate in the promotion of such a company or acquire in an undertaking or part of an undertaking;

do anything for the purpose of advancing the skill of persons employed by it or that of persons who, though not so employed are engaging themselves, or have it in contemplation to engage themselves, in work of a kind in the case of which it has or may have a direct or indirect concern in the products thereof;

provide houses, hostels and other like accommodation for persons engaged in its business;

make loans to persons employed by it (including, in particular, loans to assist them to acquire housing accommodation), and guarantee loans made to persons so employed (including, in particular, loans made by building societies and other bodies for housing purposes);

promote recreational activities for, and activities conducive to the welfare of, persons who are, or have been, engaged in its business and the families of such persons and assist the promotion by others of such activities; and

do all such other things as are incidental or conducive to the attainment of its object.