Cap. 445 Art. 19Power to borrow capital.

(1) For the purposes of any requirements of a capital nature, an Entity may, with the approval in writing of the Minister in consultation with the Minister responsible for finance, borrow or raise money in such manner, from such person, body or authority, and under such terms and conditions as the Minister, after consultation as aforesaid, may in writing approve.

(2) An Entity may also from time to time borrow, by way of overdraft or otherwise, such sums as it may require for carrying out its functions under this Act:

Provided that for any amount in excess of two hundred and fifty thousand euro (250,000), there shall be required the approval of the Minister in writing.