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Section 12: Borrowing power of the Board

The Himachal Pradesh Tourism Development and Registration Act, 2002State Act of Himachal Pradesh · Act 15 of 2002

(1) The Board may, with the approval 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 issuing the bonds, debentures or such other instruments as it may deem fit for discharging all or any of its functions under this Act.

(2) The Government may guarantee, in such manner as it thinks fit, the repayment of the principal and the payment of interest thereon with respect to the loans borrowed by the Board under sub-section (1).

(3) 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 amount as it may require for discharging its functions under this Act.

Where this provision sits

ActThe Himachal Pradesh Tourism Development and Registration Act, 2002
Section12
Marginal noteBorrowing power of the Board
JurisdictionState of Himachal Pradesh
StatusIn force as published by the source

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