Amendment status not verified — confirm the current text below against the official source.
In the West Bengal Ceiling on Government Guarantees Act, 2001, in section 5, for sub-section (1), the following sub-section shall be substituted:— "(1) The Government shall charge a minimum of one per centum as guarantee commission: Provided that no guarantee commission shall be charged by the Government, where loan is raised— (a) by any organization under the administrative control of that Government, or PART III] THE KOLKATA GAZETTE, EXTRAORDINARY, MARCH 26, 2002 11 The West Bengal Finance Act, 2002. (Section 10.) (b) by the West Bengal Infrastructure Development Finance Corporation Limited, and such loan amount is fully availed of by the Government itself for funding different infrastructure projects: Provided further that the Government may, by general or special order, exempt from the payment of guarantee commission by a borrower on whose behalf the Government guarantee is given, where such borrower is— (a) a local authority, or (b) a statutory body, or (c) a co-operative institution.". By order of the Governor, A. K. BHATT'ACHARYA, Secy. to the Govt. of West Bengal. Published by the Controller of Printing and Stationery, West Bengal and printed at Saraswaty Press Ltd. (Government of West Bengal Enterprise), Kolkata 700 056