18 or part of assets which are not required for the exercise of its functions for such consideration as the Authority may, with the approval of the Minister, 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 construct and maintain warehouses, factories, commercial buildings, offices, freightsheds, docking facilities, loading and unloading berths, landings for loading and unloading operations, storage facilities or workshops, ports, piers, shipyards, or other structures for the use of itself or other persons for the construction or provision of any of the said facilities. 8. To sell, rent, grant leases, sub-leases or other interests or concessions in respect of land, buildings or any other facility or structure within an export processing zone owned by, or under the control of, the Authority. 9. To import, store, exhibit, pack, unpack, re-pack, manufacture, assemble, refine, purify, mix, transform, operate, re-ship (whether by sea or air), and manipulate all kind of merchandise, products, raw materials, containers and other commercial goods other than those goods which are prohibited for importation, storage, or manufacture in an export processing zone. 10. To invest, in such manner and on such security, if any, as the Authority may determine, any funds of the Authority which are not immediately required and to vary or realize any investment so made. 11. 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. 12. With the approval of the Minister, to enter into, review, cancel or abandon arrangements with any government or authority, local or otherwise, that may seem conducive to the exercise of its functions or any of them and to obtain from such government or authority rights, privileges and concessions which the Authority thinks desirable to obtain and carry out, exercise and comply with such arrangements, rights, privileges and concessions. 13. With the approval of the Minister to raise loans or borrow money in such amounts and for such purposes and under conditions as may be approved by the Minister. 14. To establish and administer such funds and reserves as the Authority may consider appropriate or necessary for the proper exercise of the functions of the Authority. 15. To visit premises and inspect financial statements, books and other documents in order to ensure compliance with any conditions subject to which any application for an investment licence was approved. 16. To employ, upon such terms and conditions as the Authority may think fit, such persons as may be necessary for conducting the affairs of the Authority and suspend or discharge any such persons. 17. To pay such remuneration and allowances and grant such leave of absence and to make such gifts and pay bonuses and the like to its employees as the Authority deems fit. 18. To provide pecuniary benefits for its employees on their retirement, resignation, discharge or other termination of service or in the event of their sickness or injury and for their dependants, and for that purpose to effect policies of insurances, establish pension or provident funds or make such other provision as may be necessary to secure for its employees and their dependants any or all of the pecuniary benefits to which the provisions of this paragraph relate. 19. With the approval of the Minister to purchase, take in exchange, hire or otherwise acquire land or dwellings for use or occupation by its employees.