Sri Lanka Consolidated Acts

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Social Security Board Act (No. 17 of 1996) - Sect 23

Borrowing powers,

23.
(1) The Board may, with the concurrence of the Minister and the Minister in charge of the subject of Finance or in accordance with the terms of any general authority given with like concurrence, borrow, by way of overdraft or otherwise, or negotiable and obtain on credit, such sums as the Board may require for meeting the obligations of the Board may require for meeting the obligations of the Board and for administering and implementing the scheme :
(2) The Board may, with the consent of the Minister given with the concurrence of the Minister given with the concurrence of the Minister in charge of the subject of Finance, borrow money otherwise than by way of loans under subsection (1) for all or any of the following purpose :-
(a) the requisition or acquisition of any movable or immovable property required for the use of the Board,
(b) the repayment of any money borrowed under subsection (1).


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