Section 6
Application of loan moneys by statutory authority
of Loans (International Fund for Agricultural Development) Act 1992
ActIn forceProvision 6 of 12
Section 6
All moneys borrowed by a statutory authority under subsection 5(1) shall be applied by the statutory authority for purposes for which they were borrowed:
Provided that where any part of such moneys cannot be applied to the purposes aforesaid such part may be applied by the statutory authority to such other purposes as may be approved by the Minister and the Fund.