Powers relating to borrowing from EIB

(1) The Government shall have full powers under this Act to do all such things which the Government may consider necessary or expedient in relation to the obtaining of, and the guaranteeing of, loans by EIB in any currency or currencies whatsoever and in such manner and on such terms and conditions as may be agreed with EIB, and those powers shall (without prejudice to the generality of the foregoing) include power to, (a) borrow from EIB from time to time such sums as may be agreed with EIB; (b) guarantee to EIB the discharge by borrowers from EIB of borrowers’ obligations to EIB and undertake such other obligations in connection with any Relevant Documents as may be agreed with EIB; (c) enter into, issue, sign and endorse such Relevant Documents as the Government may consider necessary or expedient in connection with any of the powers mentioned in this section and to do so upon and subject to such terms and conditions as may be agreed with EIB; (d) do all things incidental or conducive to the exercise of the powers mentioned in this section. Loans (European 6 Investment Bank) (2) Nothing in the provisions of this Act shall affect or derogate from any other power to borrow or guarantee possessed by the Government. (3) As soon as possible after the signing of any loan agreement between the Government and EIB or of any guarantee or other undertakings by the Government in favour of EIB, the Minister shall cause a statement thereof to be laid before the National Assembly.