Section-27 Borrowing powers of the Authority

Section-27.Borrowing powers of the Authority.-

1. The Authority may with the consent of the Central Government or in accordance with the terms of any general or special authority given to it by the Central Government borrow money from any source by the issue of bonds debentures or such other instruments as it may deem fit for discharging all or any of its functions under this Act.

2. The Central government may guarantee in such manner as it thinks the repayment of the principal and the payment of interest thereon with respect to the loans borrowed by the Authority under sub-section (1).

3. Subject to such limits as the Central Government may from time to lay down, the Authority may borrow temporarily by way of overdraft or otherwise such amounts as it may required for discharging its functions under this Act.