Section 22L. Functions of Corporation.

The functions of the Corporation shall be— (i) generally to promote and assist in the rapid and orderly establishment, growth and development of Industries in the Union Territory of Jammu & Kashmir, and (ii) in particular and without prejudice to the generality of clause (i) to— (a) establish and manage industrial estates at place selected by the Government ; (b) develop industrial area selected by the Government for the purpose and make them available for undertakings to establish themselves ; (c) develop land on its own account of for the Government for the purpose of facilitating the location of industries and commercial centers thereon ; (d) assist financially by loans industries to move their factories into such estates or areas ; (e) undertake schemes for providing industrial units and commercial establishments with such structures and facilities as may be necessary for their orderly establishment, growth and development ; (f) promote, organize, sponsor or undertake schemes or works, either jointly with other corporate bodies or institutions, or with Government or local authorities, or on an agency basis, in furtherance of the purposes for which the Corporation is established and all matters connected therewith.