Section 12A in The National Co-Operative Development Corporation Act, 1962
12A. [ Power of Corporation to borrow money. [Inserted by Act 3 of 1974, Section 11, (w.e.f. 7-4-1975)]
(1)The Corporation may, for the purposes of carrying out its functions under this Act, and with the previous approval of, and subject to the directions of the Central Government, borrow money from--(a)the public by the issue or sale of bonds or debentures. or both, carrying interest at such rates as may be specified therein;(b)any bank or other financial institution:(c)any other authority, organisation or institution as may be specially approved by the Central Government in this behalf.(2)The Central Government may guarantee the repayment of the moneys borrowed by the Corporation under clause (a) or clause (b) or clause (c) of sub-section (1) and the payment of interest thereon and other incidental charges.][12B. Grants, donations, etc. - (1) The Corporation may receive gifts, grants, donations or benefactions from Government or any other agency in or outside India.(2)The Corporation shall not receive any gifts, grants, donations or benefactions from a foreign government or any other agency outside India except with the previous approval of the Central Government][Inserted by Act 45 of 2002 (w.e.f. 14.8.2002) ]
