(1) Subject to the provisions of this section the Corporation may borrow sums required for meeting any of its obligations and discharging any of its functions.
(2) The power of the Corporation to borrow shall be exercisable only with the approval of the Minister, as to the amount, as to the sources of the borrowing and as to the terms on which the borrowing may be effected. An approval given in any respect for the purposes of this subsection may be either general or limited to a particular borrowing or otherwise, and may be either unconditional or subject to conditions.
(3) With approval of the House of Assembly, the Minister may guarantee in such manner and on such conditions as he or she may think fit the payments of principal and interest of any approved borrowing by the Corporation.
(4) Where the Minister is satisfied that there has been default in the payment of any principal monies or interest guaranteed under the provisions of this section he or she shall direct the repayment out of the Consolidated Fund of the amount in respect of which there has been such default.
(5) The Corporation shall make to the Accountant General, payments including interests, at such times and in such manner and of such amounts as the Minister may direct towards repayment of the sums issued in fulfilment of any guarantee given under this section.