(1) The Corporation may exercise all such powers as may be necessary or expedient for the purpose of carrying out its functions under this Act.
     (2) Without prejudice to the generality of the foregoing provision, such power shall include the power--
         (a) to acquire and hold such property, both movable and immovable, as the Corporation may deem necessary for efficiently performing its functions under this Act and to make improvements in such property and to transfer by way of sale, lease or otherwise any such property;
         (b) to carry on or promote any trade, business or industry;
         (c) to give financial or other assistance to persons to enable them to carry on trade, business or industry in Faridabad primarily with a view to providing employment to, and rehabilitating, displaced persons settled therein;
         (d) to construct or cause to be constructed residential or other buildings and to sell or let such buildings or cause them to be sold or let, on such terms as may be prescribed;
         (e) to advance loans on such terms and for such purposes as may be prescribed;
         (f) to supply or cause to be supplied, in accordance with the law for the time being in force, electrical energy for domestic and industrial purposes at reasonable rates;
         (g) to take such other measures as the Corporation may deem necessary for the rehabilitation of displaced persons settled in Faridabad;
         (h) to take such steps as may be necessary for improving the economic and social conditions of the inhabitants of Faridabad.
     (3) Nothing in this section shall affect the exercise of any power or the performance of any function by any local authority having jurisdiction in Faridabad.