National Stud Act, 1945

Power of Company to borrow.

24.—The Company, with the consent of the Minister for Finance, given after consultation with the Minister for Agriculture, may from time to time borrow moneys from its bankers, but the total amount borrowed under this section and outstanding shall not at any time exceed the lesser of the two following amounts, that is to say:—

(a) one hundred thousand pounds;

(b) the amount of the authorised share capital of the Company which is unissued.