Powers of Commissionerate to borrow

(1) The Commissionerate may, from time to time, with the previous sanction of the Government and subject to the provisions of this Act, and to such condition as may be prescribed borrow any sum required for the purposes of this Act. (2) The Government may, for the purpose of this section, empower the Commissionerate to borrow by the issue of bonds or stocks or otherwise and to make arrangements with Bankers. (3) The maximum amount which the Commissionerate may at any time raise as loan under sub-section (1) shall be Rs. 10 crores of rupees unless the Government by notification fix higher maximum amount. (4) Stocks issued by the Commissionerate under this section shall be issued, transferred, dealt with and redeemed in such manner as may be prescribed.