As enacted

Contents

Sri Lanka Sustainable Energy Authority Act 2007 · As enacted · Part VIII · Finance

48. Borrowing powers of the Board

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The Board may with the consent of the Minister given in concurrence with the Minister in charge of the subject of Finance, borrow temporarily by way of overdraft or otherwise, such sums of money as the Board may require for covering expenditure incurred by it in the exercise, performance and discharge of its powers, duties and functions:

Provided that the aggregate of the amounts outstanding in respect of any temporary loans raised by the Board under this subsection, shall not at any time exceed such sum as may be determined by the Minister in consultation with the

Minister in charge of the subject of Finance.

(2)

The Board may with the consent of the Minister given with the concurrence of the Minister in charge of the subject of Finance, borrow money for the provision of the working capital of the Authority otherwise than by way of temporary loans under subsection (1), by the issue of debentures, referred to as the “Sustainable Energy Authority Debentures”.

(3)

Sustainable Energy Authority Debentures shall be issued, transferred, dealt with, redeemed and cancelled in accordance with such terms as may be determined by the

Board with the approval of the Minister, given with the concurrence of the Minister in charge of the subject of Finance.

Read on from s 49

Part IX