12. Functions and powers
- Pride shall carry out all functions and exercise all powers necessary for the attainment of its objectives.
- All powers of Pride shall vest in the Board of Trustees.
- In addition to the powers accorded a voluntary association at law, Pride shall be competent to:
- open and maintain a banking account or accounts at a banking institution in the name of Pride;
- raise the necessary funds for the attainment of its objectives;
- make such rules as may be necessary for the safeguarding of the integrity of the Pride financial accounts, any limitations on expenditure and investment of such funds and any other matter concerning the financial regulation of Pride accounts;
- sue and be sued in its own name in legal proceedings;
- acquire, dispose of, and in any manner whatsoever, deal in property, moveable and immovable;
- lend and borrow money and secure the repayment by mortgage, hypothecation or pledge of any of the assets of Pride.
- It is recorded that Pride is not an association for gain and that its income and property shall be applied solely towards the promotion of its objectives and no portion of the income shall be paid or transferred, directly or indirectly, by way of dividend, bonus or otherwise by way of profit to its members, provided that Pride shall be entitled to remunerate any officer or servant for services rendered to it.