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Section 5

The West Bengal Ceiling On Government Guarantees Act, 2001State Act of West Bengal · Act 17 of 2001

(1) The Government shall charge a minimum of one per cent as guarantee commission which shall not be waived under any circumstances.

(2) Depending on the default risk of the project, the Government may, by notification, specify commission at an enhanced rate.

Explanation.—For the purposes of this section, 'default risk' means the probability of default by the borroweron whose behalf the Government Guarantee is given, depending on the amount borrowed, the type of industry and the economic situations.

Where this provision sits

ActThe West Bengal Ceiling On Government Guarantees Act, 2001
Section5
JurisdictionState of West Bengal
StatusIn force as published by the source

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