24. (1) The ¹[Corporation shall implement industrial policy of the Government in respect of small and cottage industries and] take such measures as it thinks fit to render assistance in the development of ²[small and cottage industries]. (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 small and cottage industries;(b) give loans to subsidiary corporations and commercial and co-operative banks and societies for the development of small and cottage industries:Provided that the loans given or guaranteed under clauses (a) and (b) shall be repayable within a period not exceeding twenty years;(c) (i) prepare and submit to the Government schemes for the development of small and cottage industries, including schemes of research and mechanisation;(ii) after these schemes have been approved by the Government, proceed to give effect to them by itself or by sponsoring subsidiary corporations or public companies;(iii) act as managing agents of such subsidiary corporations or companies, being in any case, represented on their Board of Directors;(iv) issue the capital required by the aforesaid subsidiary corporations and companies for public subscription;(v) if any portion of such capital remains unsubscribed for a period of four months from the date of issue, subscribe to such portion;(vi) underwrite the whole or any portion of the share capital so issued; and(vii) sell or transfer the shares subscribed to under sub-clause (v); provided that no such sale or transfer shall take place at a rate below the market quotation or below the par value of such shares without the previous sanction of the Government;(d) arrange for the marketing of articles manufactured by small and cottage industries; (e) maintain depots for the supply of raw materials to and purchase of finished products from small and cottage industries and also maintain common facility centres to afford common facilities to small and cottage industries; and(f) prepare schemes to set up small industrial units in fields of high priority by itself or in collaboration with subsidiary corporations, public companies, partnership or persons execute them with the prior approval of the Government, and, after execution may transfer the ownership thereof for valuable consideration to any unit of subsidiary corporation, public company, partnership firm or persons, with the prior approval of, and on such terms as may be approved by the Government. Explanation.- Loans may by made by the Corporation in kind and may be in the form of factory buildings, residential houses or machinery equipment and raw materials on hire purchase basis ³[;(g) prepare and implement investment schedules for small and cottage industries; (h) assist in setting up of small and cottage industries;(i) provide assistance to sick small and cottage industries;(j) register shall and cottage industries;(k) collect, collate and analyse industrial date and establish date bank for small and cottage industries to assist the Government in the formulation of policy in the field of small and cottage industries;(l) assist entrepreneurs with information relating to small and cottage industries;(m) develop manufacturing process and technology for development of small and cottage industries;(n) assist small and cottage industries in the matter of entering into contract and establishing business connections with medium and big industries for the purpose of supplying to them their products;(o) do such other acts and things as may be considered necessary for carrying out the purposes of this Act.] ⁴[(3) Nothing in section 116 of the Companies Act, 1994 (Act 18 of 1994) shall apply to the Corporation.]