Section 5: Loans
consolidated text (as at 2011). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
5. Loans
(1) A commission may borrow from Government such sums as it may
require on such terms and conditions as the Minister to whom responsibility
for the subject of finance is assigned thinks fit.
(2) Where a commission has raised a loan under subsection (1), it shall
comply with such direction as the Minister may give in relation to the management of its finances.
(3) The Minister to whom responsibility for the subject of finance is assigned may, by registered letter and without any further formality, require a
commission to reimburse forthwith any loan made under subsection (1) if, in
his opinion, the commission has failed to comply with any term, condition or
direction imposed under this section.
(4) A loan made under subsection (1) shall not be subject to registration
duty.