Borrowing Powers of Certain Bodies Act, 1996

Consent of the Minister.

5.—(1) Where the power of a body to borrow is subject to the consent of the Minister, then such consent shall also be required, in the like manner and to the like extent, in connection with any transactions authorised under section 3 .

(2) The power to effect any transactions by virtue of this Act shall be subject to and be in compliance with subsection (1) and any requirements specified by the Minister from time to time.

(3) A requirement specified under subsection (2) shall only be made by the Minister after consultation with any other Minister of the Government, who, having regard to the functions of the other Minister, the Minister considers ought to be consulted.