(1) For the purpose of attaining the objects of the company as set out in section 8 (or such of them as the company may have adopted), and for no other purpose, a trust company may from time to time borrow money:
Provided that the aggregate of the sums of money borrowed shall not at any time exceed the amount of the company's capital for the time being paid up.
(2) Moneys borrowed by a trust company shall not be secured, by debenture or otherwise, on its capital or general undertaking, but may be secured on any of the company's property (not being property held by it on any trust), other than the securities deposited by it with the Accountant General under this Act.