Power of Board to borrow

The Board may from time to time, with the previous sanction of the Government and subject to the provisions of this Act and to such conditions as may be prescribed in this behalf, borrow any sum required for the purposes of this Act. (1) The Board shall meet at least once every quarter and as often as may be necessary. (2) All members of the Board shall be given seven clear days’ notice of a meeting specifying the date, time and place of the meeting and business to be transacted thereat: Provided that, seven clear days’ notice shall not be necessary where, in the opinion of the chairman, business of an emergent nature has to be transacted.