Section 8
Restriction on borrowing powers of statutory authority so long as guarantee outstanding
of Loans (International Banks) Act 1958
ActIn forceProvision 8 of 12
Section 8
So long as the Government continues to be liable under any guarantee or other undertaking given in exercise of the powers conferred by section 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.