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The Bangladesh Biman Corporation Ordinance, 1977

( Ordinance NO. XIX OF 1977 )

Borrowing powers
17. (1) The Corporation may, with the prior approval of the Government or in accordance with the terms of any general authority given to it by the Government,-
 
 
 
 
(a) borrow money in Bangladesh or foreign currency for all or any of the purposes of the Corporation; 1[ * * *]
 
 
 
 
2[(aa) secure the payment of any sum borrowed under clause (a) by hypothecation or mortgage of any aircraft owned by the Corporation;]
 
 
 
 
(b) raise capital by the issue of bonds, debentures and debenture-stock.
 
 
 
 
(2) The Government may guarantee, in such manner and on such conditions as it thinks fit, the redemption or repayment of, and the payment of interest on, any bonds, debentures or debenture-stock issued by the Corporation.

  • 1
    The word “and” was omitted by section 2 of the Bangladesh Biman Corporation (Amendment) Act, 1988 (Act No. XLIII of 1988)
  • 2
    Clause (aa) was inserted by section 2 of the Bangladesh Biman Corporation (Amendment) Act, 1988 (Act No. XLIII of 1988)
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