STANDARDS ORGANISATION OF NIGERIA

Section 20: Power to borrow.

2015Section 20 of 52Federal Republic of Nigeria

(1) The Organisation 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 Organisation shall not, without the approval of the Minister, borrow money which exceeds, at any time, the limit set by the Minister.
(3) Notwithstanding subsection (1) of this section, where the sum to be borrowed is in foreign currency the Organisation shall not borrow the sum without the prior approval of the Minister.

Cite this section

Section 20, STANDARDS ORGANISATION OF NIGERIA (2015).

https://repo.podus.ai/laws/standards-organisation-of-nigeria/section/20/