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66. Power to raise loans.-

(1) A Board may, with the previous sanction of the Central Government and after due notification in the Official Gazette, raise loans for the purposes of this Act:

Provided that no such notification shall be necessary if a loan is obtained from the Central Government or a State Government.

(2) Loans may be raised by a Board in the open market on Port Trust securities issued by it or may be obtained from the Central Government or a State Government.

(3) The terms of all loans shall be subject to the approval of the Central Government.



Major Port Trusts Act, 1963 Back




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