Loan (State Development) Act, 1960 🇳🇬

Nigeria

Table of Contents

Coat of Arms

Loan (State Development) Act, 1960

  • Published in Official Gazette supplement 53 on 8 September 1960
  • Assented to on 6 September 1960
  • Commenced on 8 September 1960
  • [This is the version of this document from 8 September 1960.]
An Act to authorise the borrowing of a sum not exceeding three million pounds from Her Majesty's Government for purposes in connection with the Development Programmes of State Governments, and to repeal the Loan (State Development) Act 1960.

1. Short title

This Act may be cited as the Loan (State Development) Act.

2. Power to raise loan

The Government of the Federal Republic of Nigeria may from time to time raise a sum or sums of money not exceeding in the who the sum of three million pounds sterling by means of a loan made by the Secretary of State with the approval of Her Majest's Treasury in accordance with section 2 of the Colonial Development and Welfare Act, 1959.

3. Application of loan

The sum or sums raised under the provisions of this Act shall be appropriated and app…

Read the Full Legislation on judy.legal

Access annotations, citing cases, and more legal research tools.

Open in judy.legal