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16. Borrowing powers of Board.-

Subject to such rules as may be made in this behalf, the Board shall have power to borrow on the security of the Fund or any other asset for any purposes for which the Fund may be applied.

1. Subs. by Act 40 of 1960, s. 9, for the words "at such rate not exceeding one rupee per hundred weight" (w.e.f. 1-10-1960).

2. Ins. by Act 25 of 1964, s. 4 (w.e.f. 16-6-1964).

3. Ins. by s. 5, ibid. (w.e.f. 16-6-1964).

Coir Industry Act, 1953 Back

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