Section 8: Power to borrow

(1) The Council may, with the general consent of its members or in accordance with the general guidelines, borrow, on behalf of the Institute, by way of loan or overdraft from legal sources, any money required by the Council to meet the obligations of the Institute in order to perform its function under this Act and such consent or authority shall be required where the sum or aggregate of the sums involved at any time does not exceed such amount as is for the time being projected in relation to the Institute in any particular year.
(2) The Council may, subject to the provisions of this Act and conditions of trust in respect of funds held or any property owned by the Institute, invest any but not all of its funds with the same consent or general authority.