Sri Lanka Consolidated Acts

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State Mortgage And Investment Bank Law (No. 13 of 1975) - Sect 41

Government; to guarantee

41.
(1) The Government may guarantee the repayment of the principal and the payment of interest on any loan raised by the Bank from any foreign Government or any other source under this Part of this Law.
(2) Immediately after the guarantee is given under subsection (1) the Minister shall lay a statement of such guarantee before the National State Assembly.
(3) Where any sum is paid out of the Consolidated Fund in terms of the preceding section, the Minister shall forthwith lay before the National State Assembly a statement that such sum has been so paid.


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