Amendment status not verified — confirm the current text below against the official source.
Power of Authority to borrow.- (1) The Authority may, from time to time, with the previous sanction of the Government and subject to such conditions as may be prescribed in this behalf, borrow any sum required for the purpose of this Act. (2) The rules made by the Government for the purpose of this section may empower the Authority to borrow by the issue of debentures and to make arrangement with the bankers. (3) Debentures issued by the Authority shall be in such form as the Authority, with the sanction of the Government, may, from time to time, determine. (4) Every debenture shall be signed by the 1[Commissioner]1 and one other member of the Authority.