The Board shall exercise all powers necessary for the proper performance of its functions under this Act and in particular but without prejudice to the generality of the foregoing, the Board shall have power to—
(a) Control, supervise and administer the assets of the Authority in a manner that best promotes the purposes for which the Authority is established;
(b) Determine the provision to be made for capital and recurrent expenditure and for reserves of the Authority;
(c) Receive any grants, gifts, donations or endowments on behalf of the Authority and make legitimate disbursements therefrom;
(d) Open a bank account or bank accounts for the funds of the Authority;
(e) Administer training levy funds;
(f) Invest any funds of the Authority not immediately required for the purposes of the Authority; and
(g) Appointing directors and other officers and staff as may be necessary for the purpose of this Act on such terms and conditions of service as the board may determine i.e. set terms and conditions of service for employees of the Authority.