Power to borrow

(1) Every market committee may, with the previous sanction of the Government, raise moneys required for carrying out the purposes for which it is established on the security of any property vested in, or belonging to, the market committee and of any fee or other amount leviable by the market committee, by or under this Act. (2) The market committee may, for the purpose of meeting the expenditure on lands, buildings and equipments, required for establishing the market, obtain a loan from the Government or the Board.