Cap. 618 Art. 6Other powers of the Fund.

(1) The Fund may appoint a person, having the necessary skills, to assist it in the fulfilment of any of its functions under this Act or any regulations issued thereunder.

(2) The Fund may from time to time delegate in writing any of its functions and powers, on such matters and subject to such conditions and modalities as may be specified in the delegation, subject to the terms and duration as determined by the Fund, to one (1) or more of the members of the Committee, a unit or function of the Fund, any one (1) or more employees of the Fund, or any other person as may be specified.

(3) The Fund may:

(a) hold accounts with the Central Bank or any other credit institution in Malta;

(b) invest any of its own assets as may be directed by the Committee from time to time having due regard to the objective of this Act and the purpose for which the Fund has been established in terms of this Act or as may otherwise be prescribed under any regulations issued under this Act;

(c) acquire, purchase, lease or dispose of any movable or immovable property required for the carrying out of its functions or for any purposes ancillary or incidental to the performance of its functions under this Act; and

(d) employ any such persons as staff of the Fund according to such procedures and on such terms and conditions as the Committee may determine.

(4) For the purpose of attaining its objects and carrying out of its functions under this Act, the Fund may, with the approval of the Minister, borrow or raise money in such manner, from such person, body or authority, and under such conditions as the Minister may in writing impose.

(5) The Fund shall not undertake any activities which would require it to be licensed or otherwise authorised under any other law.