Agricultural And Industrial Credit Corporation (Amendment)

Agricultural And Industrial Credit Corporation (Amendment) AN ACT TO AMEND THE AGRICULTURAL AND INDUSTRIAL CREDIT CORPORATION ORDINANCE. BE It enacted by the Queen’s Most Excellent Majesty, by and with the advice and consent of the Senate and the House of Representatives of Ceylon in this present Parliament assembled, and by the authority of the same, as follows: – Short title. 1. This Act may be cited as the Agricultural and Industrial Credit Corporation (Amendment) Act, No. 5 of 1970. Amendment of section 51 of Chapter 402. 2. Section 51 of the Agricultural and Industrial Credit Corporation Ordinance is hereby amended in sub-section (1) of that section by the insertion, immediately after paragraph (n) of that sub-section, of the following new paragraph: ” (nn) to borrow, or accept deposits of, money from the Government, the Central Bank of Ceylon, or from any other source approved by the Monetary Board of such Bank, on such terms and conditions as may be determined by agreement between the corporation and the Government, or such Bank, or such other source, as the case may be;”.