10Power of marketing boards to make loans and grants and to enter into guarantees.N.I.
(1)A scheme may provide for empowering the board, subject to such limitations as may be specified in the scheme—
(a)to lend or grant money to any other board;
(b)to guarantee payment by any other board of any sums which that board may be liable to pay on account of principal or interest in respect of any loan raised by them.
(2)A scheme which contains such a provision as is authorised by subsection (1) may further provide for securing that any loan, grant or guarantee not specifically authorised by the scheme shall not be made or given by the board except in pursuance of a resolution of the board specifying all material particulars relating to the proposed transaction being a resolution which has been previously notified to, and approved by, the Ministry.
(3)Any scheme may empower the board to pay on account or lend to any registered producer a portion of the amount which the board estimate that he will receive from the sale of any quantity of the regulated product produced or in course of production or held in store by him.