(1) Subject to the provisions of subsection (2), the Board may borrow sums required by it for meeting any of its obligations or discharging any of its functions.
(2) The power of the Board to borrow shall be exercisable only with the approval of the Minister for finance as to the amount, as to the source of the borrowing and as to the terms on which the borrowing may be effected.
(3) An approval given in any respect for the purpose of subsection (2) may be either general or limited to a particular borrowing or otherwise, and may be either unconditional or subject to conditions.