State Act
4
Section 4. Prohibition.
THE KARNATAKA CEILING ON GOVERNMENT GUARANTEES ACT, 1999.
Act no. 11 of 19991982In forceKarnataka (State Act)
4. Prohibition.- 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.