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(1)Subject to the provisions of any regulations made by the Treasury, a county council may make or guarantee, or undertake to make or guarantee, an advance by way of loan to any tenant or prospective tenant of a small holding provided by the council under the principal Act, of such sums as they think necessary for the purchase of live stock, fruit trees, seeds, fertilisers, and implements required for the purposes of the holding, and the making of such advances shall be included amongst the purposes for which the council may borrow under section fifty-two of the principal Act.
(2)The Board of Agriculture and Fisheries may make or guarantee, or undertake to make or guarantee, similar advances to tenants of small holdings provided by the Board.
(3)The powers conferred by this section shall be exercise-able by the council or the Board only where, in the opinion of the council or the Board, as the case may be, the facilities for obtaining advances from a society on a co-operative basis are inadequate.
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