Section 73. Power of Board to take temporary loans or overdrafts

{
    "act_title": "THE ANDHRA PRADESH MARITIME BOARD ACT, 2019",
    "act_slug": "the-andhra-pradesh-maritime-board-act-2019",
    "section_label": "Section",
    "section": {
        "number": "73",
        "title": "Section 73. Power of Board to take temporary loans or overdrafts",
        "chapter": null,
        "content": "73. Power of Board to take temporary loans or overdrafts -\nNotwithstanding anything contained in this Act, the Board may,-\n(1) borrow moneys by means of temporary overdraft or otherwise by placing the securities held by the Board in its reserve funds or on security of the fixed deposits of the Board in its banks;\n(2) obtain advances from such banks on pledge or by hypothecation of its current assets and mortgage of its fixed assets without the previous sanction of the Government:",
        "footnote": "",
        "is_definition": false,
        "sort_order": 2780
    },
    "prev_section": "72",
    "next_section": "73"
}