Section 7: Power to lend money to employees of the Institute.

The Institute may make loans to any of its employees or guarantee any loan made to any such employee by any person-(a) to purchase a motor vehicle required by the employee for the performance of his duty; or
(b) to build a house for the residential use of the employee or of his family, to purchase a plot of land on which a house for the employee may be built or to purchase a house for the residential use of the employee or of his family.