Cap. 545 Art. 22Powertoborrowor raise capital.

(1) For the purpose of carrying out any of its functions under this Act, the Regulator may, in connection with the exercise of its functions, borrow or raise money.

(2) The Regulator 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 one hundred and twenty thousand euro (€120,000), there shall be required the approval of the Minister in writing.