Amendment status not verified — confirm the current text below against the official source.
All loans raised by the Board under this Act shall be a first charge on,-- (1) the property vested or which may hereafter during the currency of the loans become vested in the Board other than,-- (i) any sum set apart by the Board as sinking fund for the purpose of paying off any loan or for the payment of pension to its employees; or (ii) the provident or pension fund established by the Board; and (2) the rates leviable by the Board under this Act.