Amendment status not verified — confirm the current text below against the official source.
Guarantee by Governmentfor loan.—(1) The Government may guarantee in such mannér as they think fit, the payment of the principal and interest of any loan proposedto be raised by the Board undersection 8: Provided that the total principal amount of guarantee issued by the Government underthis secticn shall not exceed a sum of rupees one hundred and eighty crores (2) The Government shall, sc long as any such guarantee1s in force, lay before the State Legislature in every year during the budg>t session, a statement of the guarantees, if any, g'ven during the current financial year and up-to-date accounts ofthe total sums, if any, which have been paid out of the Consolidated Fund of the St te by reason of any such guarantee or paid into the said fund towards 1epayment of any money, so paid out. 34/2483/2000/MC 474