24.
| (1) The Board of Directors may, with the consent of the Minister, or in accordance with the terms of any general authority given by him, borrow temporarily, by way of overdraft or otherwise, such sums as the Board may require for meeting the obligations of the Corporation: |
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| (2) The Board of Directors 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 working capital; | | |
| | (b) the provision of money for meeting any expenses incurred in connection with any permanent work or other thing the cost of which is properly chargeable to capital; | | |
| | (c) the provision of money required for the payment of any compensation under this Act which is payable in cash by the Corporation; | | |
| | (d) the redemption of any stock issued or any loan raised by the Board of Directors; and | | |
| | (e) any other purpose for which capital moneys are properly applicable, including the repayment of any money temporarily borrowed under subsection (1). | | |
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| (3) The Board of Directors 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 section 26 or in any other manner whatsoever. |
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Sri Lanka Consolidated Acts