Cap.22:23 Pusuc PROCUREMENT AND DisPOsAL OF Pusuc AssETS No.S/2017 Audit of Accounts of Authority 19. (1) The accounts of the Authority shall be audited by the Auditor-General, who for the purpose shall have all the functions conferred on him or her by sections 8 and 9 of the Audit Office Act [Chapter 22: 18] as though the assets of the Authority were public moneys and the members, employees and agents of the Authority were officers as defined in that Act. SECOND SCHEDULE (Section 7(e)) ANCILLARY PoWERS OF AUTHORITY l. To acquire by lease, purchase,or otherwise, immovable property, and to construct buildings thereon. 2. To buy, take in exchange, hire or otherwise acquire movable property, including vehicles, necessary or convenient for the performance of its functions. 3. To maintain, alter and improve property acquired by it. 4. To mortgage or pledge any assets or part of any assets and to sell, exchange, let, dispose of, turn to account or otherwise deal with any assets or part of assets which are not required for the exercise of its functions for such consideration as the Board, with the approval of the Minister, may determine. 5. To open bank and building society and post office accounts in the name of the Authority and to draw, make, accept, endorse, discount, execute and issue for the purposes of its functions promissory notes, bills of exchange, bills of lading, securities and other negotiable or transferable instruments. 6. To insure against losses, damages, risks and liabilities which it may incur. 7. To sell, rent, grant leases, subleases or other interests or concessions in respect of land, buildings or any other facility or structure owned by it, or under its control. 8. To enter into contracts and suretyships or give guarantees in connection with the exercise of its functions and to modify or rescind such contracts or rescind such suretyships or guarantees. 9. With the approval of the Minister, to enter into, review, cancel or abandon arrangements with any government or authority, whether inside or outside Zimbabwe, that may seem conducive to the exercise of any of its functions and to obtain from such government or authority rights, privileges and concessions which the Board thinks desirable, and to carry out,exercise and comply with such arrangements, rights, privileges and concessions. 10. To raise loans or borrow money in such amounts and for such purposes and under conditions as may be approved by the Minister. 11. To establish and administer such funds and reserves as the Board considers appropriate or necessary for the proper exercise of the Authority's functions. 12. To provide terminal benefits for its employees on their retirement, resignation, discharge or other termination of service or in the event of their sickness or injury. THIRD SCHEDULE (Section 15(3)) AUTHORISATION TO CONDUCT PROCUREMENT PROCEEDINGS Interpretation in Third Schedule 1. In this Schedule"authorisation" means authorisation to conduct procurement proceedings granted by the Authority in terms of section 15(1); "remedial plan" means a plan prepared in terms of paragraph 5. 107