ADVOKS GLOBAL · KENYA
Specific Loan (Commonwealth Development Corporation) Act
7. Terms and conditions of Loan
Edition: 1964-09-29 · In force
7. Terms and conditions of Loan
(1)The terms and conditions upon and subject to which the Loan shall be borrowed shall be such as may be agreed between the Minister and the Corporation consistently with the provisions of this Act, and such agreement may provide for—(a)the creation of and the issue to the Corporation of bonds for securing the Loan, in such form, in such amounts not being less than ten thousand pounds each issued at such times and made subject to such terms and conditions as, subject to the provisions of this Act, may be agreed between the Minister and the Corporation; and(b)the conversion of the said bonds, when required by the Corporation, into stock or other securities.(2)Any such agreement as aforesaid may be executed by the Minister on behalf of the Minister.