Section 33: Power to borrow money and raise capital from Government and non-Government sources.

(1) The Authority may, with the approval of Minister and also of the National Council of Ministers, borrow money or raise capital, otherwise than from the Government, by the issue in such form as may be approved of stock, bonds, promissory notes, loan certificates or other and documents of title for all or any of the following purposes-
(a) the fulfilling of the functions of the Authority under this Act;
(b) the provision of working capital;
(c) the redemption or repayment of any capital raised or money borrowed which the Authority is required or entitled to redeem or repay;
(d) the provision of money for meeting any expenditure which is properly chargeable to capital account.
(2) For the purposes of payment of interest, repayment or redemption, moneys borrowed or capital raised under this section shall rank equally with all other such moneys borrowed or capital raised under this section; and the payment of interest on and the repayment or redemption of money so borrowed or capital raised shall have priority over the payment of interest on and the repayment or redemption of money comprised in the advance account created under section 19 of this Act, Port Stock issued under section 18 of this Act and any money borrowed or capital raised from the Government under section 34 of this Act.
(3) Money borrowed by the Government for the exclusive purpose of re-lending to the Authority and, accordingly, re-lent to the Authority, shall be deemed to be money borrowed otherwise than from the Government and, accordingly, to be money borrowed or capital raised, under this section.
(4) Money owed by the Authority under any arrangement by which such money is allowed to remain unpaid for a period greater than one year shall be deemed to be money borrowed under this section.
(5) The Authority may borrow money (other than money borrowed by the Government for the exclusive purpose mentioned in subsection (3) of section 33 of this Act) or raise capital from the Government in such manner and upon such terms and conditions as the Minister may approve for all or any of the purposes mentioned in subsection (1) of section 33 of this Act.