Revolving Loans Fund for Industry Act

An Act to establish a fund to be known as the Revolving Loans Fund for Industry.

[1959 No. 16.]

[31 st August, 1959]

[ Commencement.]

1. Short title

This Act may be cited as the Revolving Loans Fund for Industry Act.

Establishment of Revolving Loans Fund for Industry

known as the Revolving Loans Fund for Industry.

lishing the fund from funds originally made available by the Government of

the United States of America to the government of the United Kingdom for the

purpose of promoting productivity in industry in the United Kingdom;

the purposes of the fund; and

of the principal of or payment of the interest on or other charge in respect of

any loan made out of the fund.

Purpose of the fund

The fund may be utilised for providing loans to assist in the establishment, expansion

or modernisation of industrial enterprises of a productive character, including the provi-

sion of services, within Nigeria.

sion of services, within Nigeria.