Section 32, The Road Transport Corporation Act, 1964

(1) The Corporation may for the purposes of performing its functions under this Act, from time to time, with the prior approval of the Minister of Finance (a) borroW money or raise capital in any currency and from any source for (i) the provision of working capital: (ii)) the redemption of any stock it is required or entitled to redeem: (ii) any other expenditure properily chargeable to capital account: (6) issue any stock; (c) give any guarantee; (d) create or maintain any mortgage or charge either fixed or floating over the whole or any part of its property. (2) Money borrowed or capital raised under the provi sions of this section shall be appropriated to the purpose for which the money or the capital has been borrowed or raised and shall be secured upon the property and funds of the Cor