[ Investment of funds

/626 [27th March, 1948] An Act to establish the Industrial Finance Corporation of India

Term of office and retirement of Directors .-(1) A nominated Director shall hold office during the pleasure of [the authority appointing him]

Borrowing powers .-(1) The Corporation may issue and sell bonds and debentures carrying interest for the purpose of raising its working capital:

Business which the Corporation may transact .- [[*] [The Corporation shall, subject to the provisions of this Act, be authorised to carry on and transact the following kinds of business, namely:-] [ Substituted by Act 66 of 1960, Section 5, for sub-S. (1).]