Sri Lanka Consolidated Acts

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Regional Development Banks Act (No. 6 of 1997) - Sect 28

Security on which loans may be granted by the Bank

28.
(1) Any loan granted by the Bank shall be on security and other terms and conditions as may be determined by the Board.
(2) Notwithstanding anything contained in subsection (1), the Board may, in its discretion, grant loans without security in any cases in which the Board, for reasons to be recorded by it in writing, decides that such security is not necessary.

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