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Broadcasting Authority (Amendment) Act, 1976

Amendment of section 28 of Principal Act.

15.—The Principal Act is hereby amended by the substitution of the following for section 28 :

“Temporary borrowing.

28.—(1) The Authority may, with the consent of the Minister, borrow temporarily by arrangement with bankers such sums (including sums in currency other than the currency of the State) as it may require for the purpose of providing for current expenditure; provided that borrowing by the Authority under this subsection of sums in currency other than the currency of the State shall also require the consent of the Minister for Finance.

(2) The Authority may, other than for the purpose of providing for current expenditure, with the consent of the Minister, which consent shall only be given if he is satisfied that the circumstances are exceptional, borrow temporarily by arrangement with bankers such sums (in the currency of the State) as it may require for the purpose mentioned in section 27 (2) of this Act.”.