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  (2) to carry on all activities, particularly activities which are commercial or industrial in nature, activities relating to tourism and activities of research and training, the carrying on whereof appears to it to be requisite, advantageous or convenient for or in connection with the performanceof its functions;
 
    (a) To run all activities; principally commercial or industrial based, activities linking to tourism and research and training activities whereby the running of it is found by the Corporation crucial, beneficially or suitable for or related with the implementation of the function.
    (b) to initiate preliminary studies of possible development and redevelopment areas and make preliminary plans outlining development or redevelopment activities and preliminary surveys to determine if the undertaking and carrying out of development or redevelopment projects are feasible;
    (c) to regulate, approve or control all buildings and building operations and the repair and removal of ruinous and dangerous buildings, including the power to prohibit, close and demolish the erection of a building of a particular class, design or appearance in the Federal Territory of Labuan;
    (d) to co-operate with or act as agent or managing agent of, or otherwise act in association with or on behalf of, the Federal Government, any public authority, any company or corporation, or any other body or person;
    (e) to promote and co-ordinate the carrying on of the activities mentioned in paragraphs (a) dan (b) by the Federal Government, any public authority, any company or corporation, or anybody or person;
    (f) with the approval of the Minister, to establish or expand, or promote the establishment or expansion of, companies, corporations or other bodies to carry on any of the activities mentioned in paragraphs (a) and (b) either under the control or partial control of the Perbadanan or independently;
    (g) to give assistance to any public authority, any company or corporation, or any other body or person appearing to the Perbadanan to have facilities for the carrying on of any of the activities mentioned in paragraphs (a) and (b), including, with the approval of the Minister, financial assistance by the taking up of share or loan capital or by loan or otherwise;
    (h) with the approval of the Minister, to underwrite or otherwise acquire any stock and shares in any public or private company, and to dispose of the stock or shares on such terms and conditions as the Perbadanan may, with the approval of the Minister, determine;
    (i) to require the Federal Government, any public authority,any company or corporation, or any body or person to obtain the prior approval of the Perbadanan before carrying out development in the Federal Territory of Labuan;
    (j) with the approval of the Minister, to dispose of capital assets and to use the proceeds from such disposal as directed by the Minister;
    (k) to appoint such agents as it may deem fit for the purpose of performing its functions;
    (l) to impose fees or any other charges it deems fit for giving effect to any of its functions or powers;
    (m) to regulate, co-ordinate and undertake development, including the development of infrastructure, in the Federal Territory of Labuan;
    (n) to value and collect property assessment tax; and
    (o) to do such other things as it deems fit to enable it to carry out its functionsand powers effectively.
 
  (3) Subject to section 7, it shall be the responsibility of the Perbadanan in performing its functions under this Act to ensure that the functions are performed in such manner as shall be in furtherance of the policy of the Federal Government for the time being in force and in particular the policy relating to the development of investment and tourism in the Federal Territory of Labuan.
 
 

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