Section 12Part 2 — Establishment, functions and duties of the Water Authority
Borrowing powers
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Subject to subsection (2), the Authority may borrow sums required by it for meeting any of its obligations or discharging any of its functions.
The power of the Authority to borrow shall be exercisable only with the approval of the Cabinet, as to the amount, sources of the borrowing and terms on which the borrowing may be effected. An approval given in any respect for the purposes of this subsection may be either general or limited to a particular borrowing or otherwise, and may be either unconditional or subject to conditions.