|
Participating lender.
|
2.— (1) For the purposes of this Act, a lender is a participating lender if—
|
| |
(a) the lender is a person in respect of whom a certificate under subsection (2) has effect, and
|
| |
(b) the lender stands approved for the time being by the Minister in accordance with this section.
|
| |
(2) The Minister may, for the purposes of this section, certify in writing that he or she is satisfied that a lender provides loans in the ordinary course of business, or has expressed to the Minister an intention to provide loans in the ordinary course of business, to qualifying enterprises.
|
| |
(3) The Minister may approve a lender under this section if—
|
| |
(a) the lender declares, in writing, that he or she agrees to comply with and be bound by the terms of a credit guarantee scheme, and
|
| |
(b) the Minister is satisfied that the lender has complied with the applicable conditions.
|
| |
(4) The Minister may withdraw an approval under this section if a lender ceases to comply with the applicable conditions or contravenes any other provisions of a credit guarantee scheme.
|