Agricultural Credit Act, 1927

Issue of debentures by the Corporation.

14.—The Memorandum and Articles of Association of the Corporation shall be so framed as to authorise the Corporation to borrow money on the security of debentures or debenture stock issued by it in accordance with the usual practice of limited companies but subject to the limitation that the amount at any time owing by the Corporation on the security of such debentures or debenture stock shall not exceed the amount of the paid-up capital of the Corporation at that time.