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This Act amends the Manipur Ceiling on Government Guarantees Act of 2004 to update how the state government provides financial backing. It introduces new rules allowing the government to set specific conditions and criteria for institutions seeking guarantees. The legislation grants the state government the authority to create detailed rules regarding risk assessments, creditworthiness ratings, and the commission fees charged for these guarantees. It also clarifies that this law works alongside other existing laws and provides a mechanism to resolve any administrative difficulties that may arise during its implementation.
Official Legislative Text
Educational Study Layer
Chronological legislative evolution of The Manipur Ceiling on Government Guarantees (Amendment) Act, 2008 across statutory gazettes and amending Acts.