s 13 Borrowing powers
13.—(1) The Corporation may for the purposes of this Act raise loans —(a) from the Government; (b) with the Minister’s approval and subject to the provisions of any written law, by any of the methods set out in section 14; or (c) from any other source directed by the Minister. (2) The Corporation must pay interest on those loans at such rate and at such times, and must make such provisions for the mode and time or times of repayment of principal as may be approved by the Minister. (3) The Corporation may borrow by way of temporary loan or overdraft from a bank or otherwise any sum which it may temporarily require —(a) for the purpose of defraying expenses pending the receipt of revenues receivable by it in respect of the period of account in which those expenses are chargeable; or (b) for the purpose of defraying, pending the receipt of money due in respect of any loan authorised to be raised under subsection (1), expenses intended to be defrayed by that loan. (4) Bonds and debentures of the Corporation issued before 1 October 1994 are guaranteed by the Government as to the repayment of principal and the payment of interest at the rate approved by the Minister. (5) Bonds and debentures of the Corporation issued on or after 1 October 1994 are guaranteed by the Government as to the repayment of principal and the payment of interest at the rate approved by the Minister if the President, acting in the President’s discretion, concurs with the giving of such guarantee. (6) For the purposes of subsection (1), the power to raise loans includes the power to make any financial agreement by which credit facilities are granted to the Corporation for the purchase of goods, materials or things.