Power of Board to borrow

(1) Subject to the provisions of this Act and with the previous approval of the Government, the Board may, from time to time borrow money required for the purposes of this Act from the public or from any corporation owned or controlled by the Central or any Government. (2) Whenever the borrowing of any sum of money has been approved by the Government, the Board may, instead of borrowing such sum or any part thereof from the public, take credit from any Bank or financial owned or controlled by the Central or any Government on cash account to be kept in the name of the Board and may the previous sanction of the Government, mortgage all or any of the properties vested in the Board as security for such credit. (3) Subject to such conditions and limitations as may be prescribed and with the previous approval of the Government, the Board may, for the promotion and