Section 3: Issue of registered stock, promissory notes and bearer bonds for the purpose of raising authorized loans.

(1) Whenever by any Act, whether enacted before or after the date on which this Act comes into operation, authority has been or is hereafter given to raise any sum of money by way of loan for any purpose mentioned in that Act, or whenever it is necessary to raise any sum of money for the purpose of repaying any loan raised by the Government under this or any other Act the Minister may, from time to time, raise such sum or any part thereof under the provisions of this Act in any one or more of the following modes-
(a) by the creation and issue of registered stock;
(b) by the issue of securities in the form of Government promissory notes;
(c) by the issue of securities in the form of bearer bonds.
(2) Each issue of registered stock or securities under this Act for the purpose of raising any specified sum of money shall be deemed to be stock or securities issued in respect of a separate loan notwithstanding that the sum of money so raised is part only of a sum of money authorised by any other Act to be raised by way of a loan.