NATIONAL AUTOMOTIVE DESIGN AND DEVELOPMENT COUNCIL ACT
Section 11: Power to borrow and invest
(1) The Council may, with the consent of or in accordance with any general authority given by the Minister, borrow, by way of a loan from the Federal Government or by way of temporary overdraft approved by the Minister, sums required by the Council for meeting its functions under this Act.
(2) The Council may invest all or part of its funds in such manner as may be approved by the Minister.
(3) Subject to section 4 of this Act, the Minister may, with the approval of the Federal Executive Council, issue to the Council direction as to the disposal of surplus funds.
Cite this section
Section 11, NATIONAL AUTOMOTIVE DESIGN AND DEVELOPMENT COUNCIL ACT (2014).
https://repo.podus.ai/laws/national-automotive-design-and-development-council-act/section/11/