Borrowing Powers of Certain Bodies Act, 1996

Power to issue security.

4.—The terms under which a body may undertake a transaction to which section 3 relates may include either or both—

(a) the issue by such body of indemnities or other similar instruments in respect of all or any of its obligations under the transaction, and

(b) provisions charging all or any part of the transaction and any related financial obligation thereon, upon all the property, of whatsoever kind, being the assets for the time being of such body, or upon any particular property, and provisions establishing the priority of such charges amongst themselves.