Industrial Credit (Amendment) Act, 1959

• Permanent Page URL

Amendment of section 4 and 11 of Principal Act.

6.—(1) Section 4 of the Principal Act is hereby amended by the insertion of “share capital issued to the Minister or” before “share capital issued to subscribers of the Memorandum of Association of the Company”.

(2) (a) Subsection (2) of section 11 of the Principal Act is hereby amended by the substitution of “directed from time to time by the Minister, and such balance sheet shall contain (in addition to any matter required by any such direction of the Minister)” for “prescribed by regulations made under this section, and such balance sheet shall contain (in addition to any matter required by such regulations)”.

(b) Subsection (6) of section 11 of the Principal Act is hereby repealed.