Power of Board to borrow

(1) Subject to such rules as may be made in this behalf, the Board may, with the previous sanction of the Administrator, borrow money from any source as it may deem fit for performing its functions under this Regulation: Provided that the previous sanction of the Administrator shall not be necessary for borrowing money from the Commission. (2) The Administrator may guarantee in such manner, as he thinks fit, the repayment of the principal and the payment of interest thereon with respect to loans borrowed by the Board under sub-section (1).