Section 8
Restriction on borrowing powers of statutory authority so far as guarantee outstanding
of Loans (Asian Development Bank) Act 1968
ActIn forceProvision 8 of 12
Section 8
So long as the Government shall continue liable under any guarantee or other undertaking given in exercise of the powers conferred by subsection 7(1) in respect of any borrowing by a statutory authority the statutory authority shall not except with the consent of the Minister exercise any other power to borrow possessed by it.