Borrowing by Public Bodies (Amendment) Decree 1966
Ministry of Finance, Budget and National Planning, Nigeria
The main purpose of this Decree is to make the Borrowing by Public Bodies Act 1965 apply to any company in or of which the national military government holds shares or debentures, even if the holding in question does not amount to a controlling interest. The Decree also restricts section 5 of the Act to guarantees given to National statutory corporations under the statutory Corporations (Guarantee of Loans) Act 1959.
Process Flow
Borrowing by Public Bodies (Amendment) Decree 1966 Current Version
January 2022
The main purpose of this Decree is to make the Borrowing by Public Bodies Act 1965 apply to any company in or of which the national military government holds shares or debentures, even if the holding in question does not amount to a controlling interest. The Decree also restricts section 5 of the Act to guarantees given to National statutory corporations under the statutory Corporations (Guarantee of Loans) Act 1959.
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