(1) Subject to subsection (2), the Council may borrow money from the Government, bank or financial institution by way of loan, overdraft or otherwise required by it for the purpose of carrying out its functions under this Act.
(2) The Council may borrow money under subsection (1) with the approval of the Minister responsible for finance on such terms and conditions including in relation to the amount and the sources of borrowing that the Minister responsible for finance approves.
(3) The Council shall not pledge its assets as security for a loan without the prior written approval of the Minister responsible for finance.