National Development Finance Agency (Amendment) Act 2007

Amendment of section 15 (seal of Agency) of Principal Act.

7.— Section 15 of the Principal Act is amended by substituting the following for subsection (4):

“(4) Any contract or instrument which, if entered into or executed by a person not being a body corporate, would not require to be under seal may be entered into and executed by 2 persons, each of whom is—

(a) the Chairperson of the Board,

(b) an ordinary member of the Board, or

(c) an officer or member of the staff of the National Treasury Management Agency authorised in writing by the Board for that purpose.”.