(1)[ A Food Corporation may, for the purpose of carrying out its functions under this Act,--(a)take advances against stocks of foodgrains or other foodstuffs held by it, or borrow money--(i)from any scheduled bank, or(ii)from any other bank or financial institution approved by the Central Government in this behalf, or(iii)from any other authority, organisation or institution or from the public on such terms and conditions as may be approved by the Central Government; or(b)issue and sell bonds and debentures carrying interest at such rates as may be fixed by the Central Government at the time the bonds or debentures are issued:][Provided that the amount borrowed by a Food Corporation under clause (b) shall not at any time exceed ten times the paid-up capital and the reserve fund established under section 33.] [Substituted by Act No. 27 of 2001.]
