Section 30 — Borrowing powers to be part of memorandum
Statute text
Notwithstanding anything contained in this Act or in any other law for the time
being in force or the memorandum and articles, the memorandum and articles of a
company shall be deemed to include and always to have included the power to enter
into any arrangement for obtaining loans, advances, finances or credit, as defined
in the Banking Companies Ordinance, 1962 (LVII of 1962) and to issue other
securities not based on interest for raising resources from a scheduled bank, a
financial institution or general public.