Power to borrow moneyN.I.
8.—(1) The Board may, by means of a bank overdraft or by such other means, within such limits and subject to such conditions as may be approved by the Secretary of State, temporarily borrow such sums as may be necessary for the purpose of defraying any expenses incurred by it under this Order.
(2) Any sum borrowed under paragraph (1) shall be repaid by the Board before the end of the financial year in which it is borrowed.
(3) The Board may borrow or raise money, on such terms and subject to such conditions as may be approved by the Secretary of State, upon the security of any property or assets of the Board for the purpose of meeting expenses incurred in connection with any permanent works the cost of which is properly chargeable to capital or for any other purpose for which capital moneys may properly be applied.