(1) Subject to this Act and in accordance with any other enactment, the Minister may, within the annual limit approved by Parliament, borrow money on behalf of the Government in a form and from a domestic or external source and for a fiscal purpose, on terms and conditions to be agreed with a creditor.
(2) The Minister shall, by an affirmative Resolution of Parliament, establish a ceiling on the aggregate amount of annual borrowings and stock of debt in the public sector.
(3) Debt raised by a statutory body, that is not funded by Government, is not a charge on the Consolidated Fund.