Powers to borrow from the United Kingdom Government

(1) Subject to this Act the Government of Belize may borrow at such times and in such sums a sum or sums of money not exceeding in the aggregate eight hundred thousand dollars as may be necessary by means of a loan or loans made by the Minister of Overseas Development with the approval of Her Majesty’s Treasury in accordance with section 2 of the Colonial Development and Welfare Act. (2) Any loans made under sub-section (1) shall be on such terms as may be fixed by the Minister of Overseas Development with the approval of Her Majesty’s Treasury.