Employee State Insurance Act

Finance and Audit


Section 29: Holding of property, etc

(1) The Corporation may, subject to such conditions as may be prescribed by the Central Government, acquire and hold property both moveable and immovable, sell or otherwise transfer any moveable or immovable property which may have become vested in or have been acquired by it and do all things necessary for the purposes for which the Corporation is established. . -
(2) Subject to such conditions as may be prescribed by the Central Government, the Corporation may from time to time invest any moneys which are not immediately required for expenses properly defrayable under this Act and may, subject as aforesaid, from time to time reinvest or realise such investments.
(3) The Corporation may, with the previous sanction of the Central Government and on such terms as may be prescribed by it, raise loans and take measures for discharging such loans.
(4) The Corporation may constitute for the benefit of its staff or any class of them, such provident or other benefit fund as it may think fit.