Section 18 in The Punjab Health Systems Corporation Act, 1996
18. Powers of the Corporation to borrow.
(1)The Corporation may, from time to time, with the previous sanction of the Government and subject to the provisions of this Act, and to such conditions, as may be specified by regulations, borrow any sum required for the purpose of this Act.(2)The Government may, for the purpose of this section, empower the Corporation to borrow by the issue of bonds or stocks or otherwise and to make arrangements with Bankers.(3)The maximum amount which the Corporation may at any time raise as loan under sub-section (1), shall be twenty crores of rupees unless the Government by notification in the Official Gazette fix a higher maximum amount.(4)Stocks issued by the Corporation under this section shall be issued, transferred, dealt with and redeemed in such manner as may be specified by regulations.
