Section 19: Power to borrow

(1) The Council may, from time to time, borrow by overdraft or otherwise such sums as it may require for the performance of its functions under this Act.
(2) The Council shall not, without the approval of the President, borrow money which exceeds, at any time, the limit set by the President.
(3)
Notwithstanding subsection (1) of this section, where the sum to be borrowed is in foreign currency, the Council shall not borrow the sum without the prior approval, in writing, of the President.