Section 109: Provisions as to exercise of borrowing powers

Q: What does Section 109 of The Age of Consent Act, 1891 (TACA) deal with?

Section 109 TACA pertains to "Provisions as to exercise of borrowing powers". It is part of the The Age of Consent Act, 1891, a legislation enacted by the Parliament of India. Section 109 of The Age of Consent Act, 1891 (TACA) governs provisions as to exercise of borrowing powers. As verified on 19 May 2026.

Q: Is Section 109 TACA still in force?

Yes, Section 109 of the The Age of Consent Act, 1891 is currently in force across the Republic of India.

Q: What is धारा 109 TACA?

धारा 109 TACA is the Devanagari Hindi reference for Section 109 of the The Age of Consent Act, 1891. Section 109 of The Age of Consent Act, 1891 (TACA) governs provisions as to exercise of borrowing powers. As verified on 19 May 2026.

Q: What is Dhara 109 TACA?

Dhara 109 TACA is the Roman Hindi reference for Section 109 of the The Age of Consent Act, 1891. "Dhara" means "Section" in Hindi. Section 109 of The Age of Consent Act, 1891 (TACA) governs provisions as to exercise of borrowing powers. As verified on 19 May 2026.

Q: How to cite Section 109 of The Age of Consent Act, 1891?

Cite as: "Section 109, The Age of Consent Act, 1891 (TACA)" in legal briefs. For academic writing, use the BlueBook format: The Age of Consent Act, 1891, § 109 (India).

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The exercise of the powers of borrowing conferred by this Act shall be subject to the following provisions, namely :-

(a) money shall not be borrowed for the execution of any work other than a permanent work including under this expression any work, of which the cost ought, in the opinion of [the [State] [The words 'the Provincial Government' were substituted for the words 'Government' by the Adaptation of Indian Laws Order in Council.] Government], to be spread over a term of years;

(b) [ the sum borrowed for any purpose other than for discharging any of the obligations arising out of the transfer to the Corporation of the powers, duties, assets and liabilities of the Board of Trustees for the Improvement of the City of Bombay constituted under the City of Bombay Improvement Trust Transfer Act, 1925, [or other than for discharging any obligation arising out of the acquisition, extension, administration, operation or maintenance of the Bombay Electric Supply and Transport Undertaking,] [Clauses (b), (c) and (d) were substituted for the original clause (b) by Bombay 13 of 1933, Section 23(a).] [or other than for discharging any obligations arising out of any of the provisions contained in Chapter IX and X,] [These words and figures were inserted by Maharashtra 34 of 1973, Section 7(a).] including the balances of all the outstanding loans and debts borrowed for any of the said purposes shall not exceed in the whole [three times] [These words were substituted for the word 'double' by Maharashtra 21 of 1989, Section 17(a).] the rateable value of the premises in [Brihan Mumbai] [These words were substituted for the words 'Greater Bombay' by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).] assessable, as hereinafter provided, to property taxes; and]

(c) [ the sum borrowed for the purpose of discharging any of the obligations arising out of the transfer to the corporation of the powers, duties, assets and liabilities of the Board of Trustees for the Improvement of the City of Bombay constituted under the City of Bombay Improvement Trust Transfer Act, 1925, including, the balances of all outstanding loans and debts borrowed by the Board of Trustees for the Improvement of the City of Bombay under City of Bombay Improvement Act, 1898, and the City of Bombay Improvement Trust Transfer Act, 1925, and by the Corporation for the purpose of discharging the aforesaid obligations, shall not at any time exceed in the whole double the rateable value of the premises in [Brihan Mumbai] [Clause (b), (c) and (d) were substituted for the original clause (b) by Bombay 13 of 1933, Section 23(a).] assessable, as hereinafter provided, to property taxes; and]

(d) [ the sum borrowed under clause (c) for the purpose of making good any deficit in budget estimate B framed under section 126 shall not in any year exceed twenty lakhs of rupees;] [Clauses (b), (c) and (d) were substituted for the original clause (b) by Bombay 13 of 1933, Section 23(a).] [and [This portion was inserted by Bombay 48 of 1948, Section 20.]

(e) [ the money may be borrowed for such time, not exceeding sixty years, as the corporation, with the sanction of the [ [State] [Original clauses (c) to (g) of section 109 were re-lettered (e) to (i) by Bombay 13 of 1933, Section 23(b).] Government], determine in each case;]

(g) [ the Corporation may at any time apply the whole or any part of a sinking fund set apart under this section in or towards the discharge of the moneys for the repayment of which the fund has been established: [Original clauses (c) to (g) of section 109 were re-lettered (e) to (i) by Bombay 13 of 1933, Section 23(b).]

(h) [ the investment every year of any sum set apart as portion of the principal of a sinking fund shall be made within fifteen days after the day on which the second half-yearly payment of interest is due by the corporation in respect of the loan for repayment of which such sinking fund is established; and the reinvestment of any sum received by the corporation on account of interest on moneys appertaining to a sinking fund already invested, and the investment of any sum payable into the fund under clause [(g)] [Original clauses (c) to (g) of section 109 were re-lettered (e) to (i) by Bombay 13 of 1933, Section 23(b).] as the equivalent of interest which the corporation would have received, if the sinking fund or a part thereof had not been applied in any manner authorized by the said clause, shall be made within one month from the day on which such interest is received or from the day on which such interest would have been received, as the case may be:]

(i) [ where money is borrowed for the purpose of discharging a previous loan, the time for repayment of the money so borrowed shall not, unless with the sanction of [the [State] [Original clauses (c) to (g) of section 109 were re-lettered (e) to (i) by Bombay 13 of 1933, Section 23(b).] Government] extend beyond the unexpired portion of the period for which the original loan was sanctioned and shall in no case be extended beyond the period of sixty years from the date of the original loan :]