Section 86
Power of Board to borrow money from International Bank for Reconstruction and Development or other foreign institutions.
The Major Port Trusts Act, 1963
About this Act
An Act to make provision for the constitution of port authorities for certain major ports in India and to vest the administration, control and management of such ports in such authorities and for matters connected therewith.
Notwithstanding anything contained in this Act or any
other law for the time being in force, a Board may, with the previous sanction of the Central Government
and on such terms and conditions as may be approved by that Government, raise for the purposes of this
Act loans in any currency or currencies from the International Bank for Reconstruction and Development
or from any other bank or institution in any country outside India; and no other provision of this Chapter
shall apply to or in relation to any such loan unless the terms and conditions of the loan or the approval
thereof by the Central Government otherwise provide.