NIGERIAN INSTITUTE OF ADVANCED LEGAL STUDIES ACT

Section 14: Borrowing power

1984Section 14 of 24Federal Republic of Nigeria

(1) The Institute may, with the consent of the Attorney-General or in accordance with the general authority given by the Federal Government, borrow by way of loan or overdraft from any source any moneys required by the Institute to meet its obligations and to discharge its functions under this Act so however that no such consent or authority shall be required where the sum or the aggregate of the sums involved at any time does not exceed such amount as is for the time being specified in relation to the Institute by the Federal Government.
(2) The Institute may, subject to the provisions of this Act and the conditions of any trust created in respect of any property, invest all or any of its funds with the like consent or general authority.
(3) The Council may invest any surplus funds of the Institute in such securities as may be permitted by law.

Cite this section

Section 14, NIGERIAN INSTITUTE OF ADVANCED LEGAL STUDIES ACT (1984).

https://repo.podus.ai/laws/nigerian-institute-of-advanced-legal-studies-act/section/14/