39.
| (1) It shall be lawful for the Board or the Authority, subject to the approval of the Minister given with the concurrence of the Minister of Finance, to borrow from the Government or any person or persons such sum or sums of money as may be necessary for, or conducive or incidental to, any of the purposes of the Board or the Authority respectively. |
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| (2) Every loan raised by the Board or the Authority shall be subject to such rate or rates of interest and to such conditions for the repayment thereof as may be approved by the Minister. |
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| (3) For the purpose of securing the repayment of any sums borrowed and the payment of interest accruing thereon, the Board or the Authority may mortgage or assign to the lender by or on whose behalf such sum or any part thereof may be lent, any property belonging to the Board or the Authority respectively or assign to such lender any right to any sums of money accruing to them. |
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Sri Lanka Consolidated Acts