Agricultural Credit Act, 1927

Name and capital of the Corporation.

4.—(1) The name of the Corporation shall be “The Agricultural Credit Corporation, Limited.”

(2) The capital of the Corporation shall be £500,000 (five hundred thousand pounds) divided into five hundred thousand shares of one pound each of which five shillings shall be payable on application for the share and a further five shillings shall be payable not less than twenty nor more than forty days after allotment, and the residue shall be payable as and when called by the Directors on not less than thirty days notice.

(3) A trustee may, unless expressly forbidden by the instrument (if any) creating the trust, invest any trust funds in his hands, whether at the time in a state of investment or not, in any shares of the Corporation which are at the time of the investment fully paid-up as to capital.