Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsLoans, overdrafts and other accommodation to be granted only in certain circumstances
| 26. No loan, overdraft or other accommodation shall be granted by the Bank to any person unless the Board is satisfied that he is worthy of credit up to the amount of such loan, overdraft or other accommodation or that such amount is secured by adequate security, or that the project or scheme to which such amount is to be applied is financially sound: Provided that the Bank may grant any loan, overdraft or other accommodation to any co-operative society, approved society or Cultivation Committee which is unable to satisfy the Board as to the requirements contained in the preceding provisions of this section if the grant of such loan, overdraft or other accommodation is approved by the Minister in consultation with the Minister of Finance and if the Minister of Finance guarantees under section 21 (1) (a) the repayment of such loan, overdraft or other accommodation. |