Section 6Part 2 — Establishment, Capital and Administration of Authority
Capital and borrowing powers of Authority
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The Cabinet shall provide the Authority with initial capital, and the Cabinet shall establish an appropriate mechanism for determining such initial capital and on-going injections of capital into the Authority and the continuing operational funding requirements of the Authority.
The Authority shall have the power to borrow subject to the provisions of Schedule 2.
In accordance with a resolution of the Legislative Assembly, the Cabinet may guarantee the payment of the principal and interest on any authorised borrowings of the Authority.
Defined Terms
initial capitaloperational funding requirements
Referenced By
- Section 2 — Definitions
Cayman Islands Health Foundation Committee established under section 6A
- Section 18 — Responsible financial management
Capital and borrowing powers