State · Andhra Pradesh
Section 33 of (ACT NO. 37 OF 1998) ARRANGEMENT OF SECTIONS SECTIONS
- (2)The maximum amount which the Corporation may at any time have on loan under sub-section (1) shall not exceed rupees one thousand crores, unless the Government fixes a higher maximum limit for this purpose.
- (3)The Corporation may approach any financial Institution or Commercial Bank for guaranteeing repayment of loans borrowed and payment of interest thereon on payment of guarantee Commission.
- (4)The Corporation may also accept contributions and donations from any individual including a non-resident Indian, or corporate body or trust, or multilateral agency for the purpose of undertaking projects or schemes notified under section 35 AC of the Income Tax Act, 1961(Central Act 43 of 1961): Provided that acceptance of any contribution or donation from a Non- resident Indian shall with the prior permission of the concerned authority under any law for the time being in force.
32PreviousSection 32 Grants, subventions, loans and advances to the Corporation34NextSection 34 Acceptance of deposits by Corporation - The Corporation may accept deposits on such conditions as it deems fit from persons, Authorities or Institutions, to whom, allotment or lease or sale of land or buildings or other properties or rights is made or is likely to be made in furtherance of the objects of this Act.