24. (1) The Corporation shall take such measures as it thinks fit to render assistance in the development of film industry. (2) In particular and without prejudice to the generality of the foregoing power, the Corporation may, in order to carry out the purposes of this Act,- (a) give loans to persons or companies for producing motion pictures, and establishment and maintenance of studios;(b) give loans to persons or corporations for setting up film studios; (c) set up studios itself and to make available the use of such studios on hire to film producers: Provided that the loans given or guaranteed under clauses (a) and (b) shall be repayable within a period not exceeding three years; (d) prepare and submit to the Government schemes for the development of film industry and small-scale industries, including schemes of research in connection thereto; (e) import cinematograph films and other necessary requisites for production or processing of films for distribution to film producers; (f) give loans to motion picture exhibitors for purchase of projectors and ancillaries thereto. This shall not include loans for lands, construction of buildings and fittings and furnishings. Explanation.- Loans may be given by the Corporation in kind and may include letting of its studios on hire. ¹[(3) Nothing in section 116 of Companies Act, 1994 (Act 18 of 1994) shall apply to the Corporation.]