Agriculture Act 1967

63 Financial assistance for certain bodies making agricultural loans.

(1) The amount of the advances which the Minister of Agriculture, Fisheries and Food may make to the Agricultural Mortgage Corporation Limited under section 2 of the [1956 c. 38.] Agricultural Mortgage Corporation Act 1956 for the purpose of increasing its guarantee fund shall be increased by seven million pounds, and accordingly in subsection (1) of that section, as amended by the [1958 c. 2 (7 & 8 Eliz. 2.).] Agricultural Mortgage Corporation Act 1958, for the words " five million pounds " there shall be substituted the words " twelve million pounds ".

(2) The amount of the advances which the Secretary of State may make to the Scottish Agricultural Securities Corporation Limited under section 2 of the [1944 c. 28.] Agriculture (Miscellaneous Provisions) Act 1944, as applied by section 8(b) of the said Act, for the purpose of increasing its guarantee fund shall be increased by one million five hundred and seventy-five thousand pounds, and accordingly in paragraph (ii) of the said section 8(b) for the words " four hundred and twenty-five thousand pounds" there shall be substituted the words " two million pounds ".