Section 14

Power of Board to borrow. — The Board may, from time to time, borrow or reborrow and take up at interest from the Central Government or the State Government or, with previous sanction of the State Government, from any person, any sum necessary for the purpose of defraying any costs , charges or expenses incurred or to be incurred by it to carry out the purposes of this Act, or for the purposes of repaying either in whole or in part any sums hereafter borrowed or owing by the Board.

Back to Act Act Subordinates

14. Power of Board to borrow. — The Board may, from time to time, borrow or reborrow and take up at interest from the Central Government or the State Government or, with previous sanction of the State Government, from any person, any sum necessary for the purpose of defraying any costs , charges or expenses incurred or to be incurred by it to carry out the purposes of this Act, or for the purposes of repaying either in whole or in part any sums hereafter borrowed or owing by the Board.