(1) The Board may form time to time, with the previous sanction of the Government and subject to the provisions of this Act and to such conditions as may be prescribed in this behalf borrow any sum required for the purposes of this Act.
(2) The rules made by the Government for the purposes of this section may empower the Board to borrow by the issue of debentures and to make arrangements with bankers and other financial institutions.
(3) All debentures issued by the Board shall be in such form as the Board, with the sanction of the Government may from time to time determine.
(4) Every debenture shall be signed by the Chairman and one other member of the Board.
(5) Loans borrowed and debentures issued under this section may be guaranteed by the Government as to the repayment of principal and the payment of interest at such rate as may be fixed by the Government.
(2) The rules made by the Government for the purposes of this section may empower the Board to borrow by the issue of debentures and to make arrangements with bankers and other financial institutions.
(3) All debentures issued by the Board shall be in such form as the Board, with the sanction of the Government may from time to time determine.
(4) Every debenture shall be signed by the Chairman and one other member of the Board.
(5) Loans borrowed and debentures issued under this section may be guaranteed by the Government as to the repayment of principal and the payment of interest at such rate as may be fixed by the Government.
आगे पढ़ें / Continue reading
Explore the next section or browse this act in the selected language.
Next · Section 50Submission of Budget to Board. →All sections / सभी धाराएँTHE JAMMU AND KASHMIR HOUSING BOARD ACT, 1976 →
More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Interpretation.Section 3 · Incorporation.Section 4 · Constitution of Board and removal of members.Section 5 · Term of office of the Chairman and members of the Board.Section 6 · Appointment of Staff.Section 7 · Conditions of service of officers and servants.Section 8 · Meetings of Board.India Code, Government of India. Text fetched 12 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.