Section 4: Prohibition

The Karnataka Ceiling on Government Guarantees Act, 1999.State Act of Karnataka · Act 11 of 1982

Notwithstanding anything contained in any other Act,-

(1) no Government guarantee shall be given in respect of a loan of any private individual, institution or company;

(2) no Government guarantee shall be extended to the Co-operation sector unless the share capital contribution from the non-Government sources is not less than the ten percent of the total equity proposed.

Where this provision sits

Act	The Karnataka Ceiling on Government Guarantees Act, 1999.
Section	4
Marginal note	Prohibition
Jurisdiction	State of Karnataka
Status	In force as published by the source

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