Borrowing powers

(1) Subject to the provisions of sub-section (2) the Authority may borrow money required by it for this meeting any of its obligations or discharging any of its functions; including on- lending to persons approved by the Board, if necessary. (2) The power of the Authority to borrow in excess of such limits as the Minister responsible for Finance may fix from time to time shall be exercisable only with the approval of the Minister responsible for Finance as to the amount, source of borrowing and the terms on which the borrowing may be effected, and an approval given for the purposes of this subsection may be general or limited to a particular borrowing or otherwise, and may be either unconditional or subject to conditions. (3) With the approval of the House of Representatives, the Minister responsible for Finance may guarantee, in such manner and on such conditions as he thinks fit, the repayment of the principal and the payment of interest on any authorized borrowing of the Authority.