Section 22V. Authority to spend Sums.

(1) The Corporation shall have the authority to spend such sums as it thinks fit for the purposes authorized under this Chapter from out of the general fund of the Corporation referred to in section 22-R or from the reserve and other funds referred to in section 22-V, as the case maybe. (2) Without prejudice to the generality of the power conferred by sub-section (1), the Corporation may contribute such sums as it thinks fit towards expenditure incurred or to be incurred by any local authority or statutory public undertaking in the performance, in relation to any of its industrial estates or industrial areas, of any of the statutory functions of such authority or undertaking, including expenditure incurred in the acquisition of land. (3) No expenditure other than capital expenditure shall be incurred by the Corporation out of moneys borrowed or received by way of deposits.