Industrial Development Act, 1977

Amendment of section 20 of Principal Act.

6.—The following section is hereby substituted for section 20 of the Principal Act:

“20.—(1) The Authority may, with the consent of the Minister given with the concurrence of the Minister for Finance, borrow temporarily by arrangement with bankers such sums as it may require for the purpose of providing for current expenditure.

(2) In this section ‘current expenditure’ includes expenditure by the Authority in the exercise of any of its functions, whether of an administrative or of a capital nature.”.