19. The following new section is hereby inserted immediately after section 19 of the principal enactment and shall have effect as section 1 9A of the that enactment:-
| 19A.
| | (1) The Authority may, with the consent of the Minister, given with the concurrence of the Minister in charge of the subject of Finance and subject to such terms and conditions, borrow temporarily, by way of overdraft or otherwise. such sums as the authority may require for meeting the obligations of Authority or discharging its duties and functions under this Act : | | |
| | (2) The Authority may, with the consent of the Minister given with the concurrence of the Minister in charge of the subject of Finance, borrow money, otherwise than by way of temporary loan under subsection (1) by the issue of debentures and the debentures so created and issues in this Act are referred to as "Condominium Management Authority Debentures. | | |
| | (3) Condominium Management Authority Debentures shall be issued, transferred, dealt with, redeemed and cancelled in accordance with such terms and conditions as may be determined by the Authority with the approval of the Minister given with the concurrence of the Minister in charge of the subject of Finance." | | |
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Sri Lanka Consolidated Acts