Nigeria - 1966 - Finance

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.

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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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