Clause 14

The Institute may, from time to time, for the purposes of this Act, raise loans from the Government or, with the consent of the Minister, from any other source, either by the creation and issue of debentures, stock or bonds, or otherwise, as the Minister may direct.(2) The Institute shall pay interest on such loans at such rate and at such times, and shall make such provision for the mode and time or times of repayment of the principal, as may be approved by the Minister after consultation with the Institute.(3) The Institute may, from time to time, borrow, by way of a temporary loan or overdraft from a bank or otherwise, any sum which it may temporarily require —

for the purpose of defraying expenses pending the receipt of revenues receivable by it in respect of the period of account in which those expenses are chargeable; or

for the purpose of defraying, pending the receipt of money due in respect of any loan authorised to be raised under subsection (1), expenses intended to be defrayed by any such loan.(4) All loans raised by the Institute under this section, together with all interest and other sums payable in respect thereof, shall be charged indifferently upon all the revenues of the Institute and shall rank equally one with another, with priority over any other charge on the revenues of the Institute.Annual report29.—

The Institute shall, as soon as practicable after the end of each financial year, cause to be prepared and transmitted to the Minister a report dealing generally with the activities of the Institute during the preceding financial year and containing such information relating to the proceedings and policy of the Institute as the Minister may, from time to time, direct.(2) The Minister shall as soon as practicable cause a copy of every such report to be presented to Parliament.”.