Power of the Board to borrow.

General199924 sections

Statutory text

(1) The Board may, from time to time, with the previous sanction of the Government and subject to such conditions as the Government may, by general or special order determine, borrow any sum required for the purposes of this Act whether by the issue of bonds or debentures or otherwise or by making arrangements with Banks or Public Sector Industrial undertakings and other Industrial undertakings or other bodies or institutions approved by the Government in that behalf.
(2) Bonds or debentures issued by the Board under this section shall be issued, transferred, dealt with or redeemed in such manner as the Government, may, by general or special order, direct.

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