Amendment status not verified — confirm the current text below against the official source.
For the purposes of borrowing money the Authority under this Act shall be deemed to be a local Authority as defined in the local Authorities Loans Act, 1914 and any work executed by the Authority for exercising the functions under this Act or the rules framed thereunder shall be deemed to be a work which such local Authority is competent to carry out under that Act. Central Act XI of 1914. Budget.