Power of Board to borrow

The Board may, from time to time, with the previous sanction of the State Government and subject to the provisions of this Act and to such conditions as may be specified in this behalf, borrow any sum required for the purposes of this Act. Subject to the provisions of this Act and subject to the direction of the Board, the Fund shall be vested in and be held and applied by it as Trustees. The Administrator may give the Board such directions as in his opinion are necessary or expedient in connection with expenditure from the Fund or for carrying out the other purposes of the Act. It shall be the duty of the Board to comply with such directions.