21.
| (1) The Minister of Finance shall guarantee-
| | (a) the repayment of any sum due to the Bank on any loan, overdraft or other accommodation granted by the Bank with the approval of such Minister under the proviso to section 26; and | | |
| | (b) the repayment of any sum due on debentures issued under this Act. | | |
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| (2) Any sum required for the fulfilment of a guarantee provided under subsection (1) may, with the approval of the House of Representatives, be paid out of the Consolidated Fund of Ceylon. |
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| (3) Any sum paid out of the Consolidated Fund of Ceylon in fulfilment of a guarantee provided under subsection (1) (b) shall be repaid, together with interest thereon at such rate as the Minister of Finance may determine with the concurrence of the Minister, by the Bank in such manner and over such period as the Minister of Finance may, with such concurrence, determine. |
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| (4) Immediately after a guarantee is given under subsection (1), the Minister of Finance shall lay a statement of the guarantee before the Senate and the House of Representatives. |
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| (5) Where any sum is paid out of the Consolidated Fund of Ceylon in fulfilment of a guarantee provided under subsection (1), the Minister of Finance shall forthwith lay before the Senate and the House of Representatives a statement that such sum has been paid. |
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Sri Lanka Consolidated Acts