Board to be a local authority within the meaning of the Local Authorities

Loans Act.— (1) The Board shall be deemed to be a local nuthority, as defined in the Travancore-Cochin Local Authorities Loans Act, 1951, :

for the purpose of borrowing money under that Act, but the provisions of that Act and of the rules made thereunder shall have effect subject to the provisions contained in this Act.

1. (2) The Board shall also have power to borrow money from the Government on such terms as may be approved by them.