Section 21: Power of Board to borrow

The Bangalore Water Supply and Sewerage Act, 1964State Act of Karnataka · Act 36 of 1964

1[(1)The Board shall not borrow any loan without the prior approval of the State Government.] 1

(2) Rules made by the State Government for the purposes of this section may empower the Board to borrow by the issue of bonds or stocks or otherwise and to make arrangements with bankers.

(3) The maximum amount which the Board may at any time have on loan under subsection (1) shall be ten crores of rupees, unless the State Government by notification fixes a higher maximum amount.

(4) Stock issued by the Board under this section shall be issued, transferred, dealt with and redeemed in such manner as may be prescribed by rules.

1. Substituted by Act 15 of 2010 w.e.f. 16.04.2010.

Where this provision sits

Act	The Bangalore Water Supply and Sewerage Act, 1964
Section	21
Marginal note	Power of Board to borrow
Jurisdiction	State of Karnataka
Status	In force as published by the source

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