Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsBorrowing Powers of the Council
| 11. The Council may, with the consent of the Minister, or in accordance with the terms and conditions of any general authority given by him, borrow temporarily, by way of overdraft or otherwise, such sums as the Council may require for meeting its obligations or performing or discharging its duties and functions under this Act: Provided that the aggregate of the amounts outstanding in respect of any temporary loans raised by the Council under this section shall not at any time exceed such sum as may be determined by the Minister in consultation with the Minister in charge of the subject of Finance. |