CENTRE FOR AUTOMOTIVE DESIGN AND DEVELOPMENT ACT

Section 13: Power to borrow and invest

1992Section 13 of 18Federal Republic of Nigeria

(1) The Centre may with the consent of or in accordance with any general authority given by the Minister, borrow by way of loan from the Federal Government or by way of temporary overdraft approved by the Minister, sums required by the Centre for meeting its functions under this Act.
(2) The Centre may invest all or any of its fund in such manner as may be approved by the Minister.
(3) Subject to section 5 of this Act, the Minister may, with the approval of the President, issue to the Centre directions as to the disposal of surplus funds.

Cite this section

Section 13, CENTRE FOR AUTOMOTIVE DESIGN AND DEVELOPMENT ACT (1992).

https://repo.podus.ai/laws/centre-for-automotive-design-and-development-act/section/13/