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NCT Delhi - Section

Section 63 in The Delhi Water Board Act, 1998

63. Borrowing powers of the Board.

(1)The Board may, with the consent of the Government or in accordance with the terms of any general or special authority given to it by the Government, borrow money from any source by the issue of bonds, debentures or such other instruments as it may deem fit for discharging any of its functions under this Act.
(2)Subject to such limits as the Government may, from time to time, lay down, the Board may borrow temporarily, by way of overdraft or otherwise, such amounts as it may require for discharging its functions under this Act.
(3)Notwithstanding anything contained in the Foreign Exchange Regulation Act, 1973 or in any other law for the time being in force relating to foreign exchange, the Board may, for the purposes of this Act, borrow with the previous consent of the Central Government, money from any bank or financial institution in any foreign country or otherwise.