Page:Competition Act 2004.pdf/14

14 :(a) mortgage, overdraft or other means, with or without security;
 * (b) charge, whether legal or equitable, on any property vested in the Commission or on any other revenue receivable by the Commission under this Act or any other written law; or
 * (c) the creation and issue of debentures, bonds or any other instrument as the Minister may approve.

(2) For the purposes of this section, the power to raise loans shall include the power to make any financial agreement whereby credit facilities are granted to the Commission for the purchase of goods, materials or things.

Issue of shares, etc.

16. As a consequence of the vesting of any property, rights or liabilities of the Government in the Commission under this Act, or of any capital injection or other investment by the Government in the Commission in accordance with any written law, the Commission shall issue such shares or other securities to the Minister for Finance as that Minister may, from time to time, direct.

Bank account

17.—(1) The Commission shall open and maintain an account with such bank as the Commission thinks fit.

(2) Every such account shall be operated by such person as may, from time to time, be authorised in that behalf by the Commission.

Application of moneys

18. The moneys of the Commission shall be applied only in payment or discharge of the expenses, obligations and liabilities of the Commissionand in making any payment that the Commission is authorised or required to make.

Investment

19. The Commission may, subject to the general or special direction of the Minister—
 * (a) invest its moneys in such manner as it thinks fit; and