24.
| (1) The Corporation may, from time to time, with the consent of the Minister and on and subject to such terms and conditions as he thinks fit, borrow temporarily, by way of overdraft or otherwise, such sums as the Corporation may require for meeting the obligations of the Corporation: |
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| (2) The Corporation may, with the consent of the Minister given with the concurrence of the Minister of Finance, borrow money otherwise than by way of a temporary loan under subsection (1) for all or any of the following purposes: -
| | (a) the provision of money for meeting any expenses incurred in connection with any work involving the installation, establishment, operation and maintenance of any apparatus required for broadcasting and of broadcasting stations; | | |
| | (b) the acquisition of any land or interest in land for the above-mentioned purposes; | | |
| | (c) the redemption of any stock issued or any loan raised by the Corporation; | | |
| | (d) the repayment of any money temporarily borrowed under subsection (1). | | |
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| (3) The Corporation may, with the consent of the Minister given with the concurrence of the Minister of Finance, borrow money for any of the purposes mentioned in subsection (2) by the issue of stock under subsection (4) or in any other manner whatsoever. |
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| (4) The Corporation may create and issue any stock required for the purposes of exercising the powers of the Corporation under subsection (3) and the stock so created and issued is in this Act referred to as "Broadcasting Corporation Stock". |
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Sri Lanka Consolidated Acts