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Section 37

Power to borrow and raise funds

of East Coast Economic Region Development Council Act 2008

ActIn forceProvision 37 of 55
Section 37

The Council may from time to time, with the approval of the

Prime Minister and the Minister of Finance, borrow at such rate of interest and for such period and upon such terms as to the time and method of repayment, and create or issue any debentures, stocks or any other financial instruments and otherwise as the Prime Minister and the Minister of Finance may approve for the purpose of raising any sums required by the Council for meeting any of its obligations or discharging any of its duties and including for the purposes of the special fund under section 33.