18.
| (1) The Central Board may, and any Regional Transport Board after receiving the approval of the Central Board for the purpose 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 Central Board or the Regional Transport Board, as the case may be, may require for meeting its obligations or discharging its duties under this Law : |
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| (2) The Central Board may, and any Regional Transport Board after receiving the approval of the Central Board for the purpose may, with the consent of the Minister given with the concurrence of the Minister in charge of the subject of Finance borrow money otherwise than by way of 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 any money required for the purpose of paying any compensation under this Law which is payable in cash by such Board ; | | |
| | (d) the redemption of any loan raised by such Board ; | | |
| | (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 Central Board may, and any Regional Transport Board after receiving the approval of the Central Board for the purpose may, with the consent of the Minister given with the concurrence of the Minister in charge of the subject of Finance, borrow money for any of the purposes mentioned in subsection (2) in any manner, as such Board considers fit in the circumstances. |
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Sri Lanka Consolidated Acts