Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsBorrowing powers of the Council
| 22. The Council may, with the consent of the Minister, or in accordance with the terms of any general authority given by the Minister, borrow temporarily by way of overdraft, loan or otherwise, such sums as the Council may require for meeting the obligations of the Council: Provided that the aggregate of the amounts outstanding in respect of any temporary loans raised by the Council shall not exceed such sum as may be determined by the Minister in consultation with the Minister of Finance. |