Sri Lanka Consolidated Acts

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Ceylon Tea Board Act (No. 15 of 1970) - Sect 15

Borrowing powers

15.
(1) The Board shall have the power to borrow money, by way of loan, on the security of the Central Tea Fund or any other assets, for any purposes for which that Fund may be applied.
(2) The amount of any such loan, the terms and conditions relating to the rate and payment of interest, and the purposes to which such loan is to be applied shall be reported to the Minister for his approval before the transaction relating to such loan is completed.

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