Section 5 of The Sikkim Ceiling on Government Guarantees Act, 2000 — Notwithstanding any thing contained in any other law , no Government guarantee shall be given in respect of a loan of any private individual, institution or company
Bare section text
Official Legislative Text
Guarantee Guarantee 5.
- (1)The Governemnt shall charge a minimum of one percent as gurantee commission which shall not be walved under any circumstances.
- (3)The Governemnt may , by notification in the Official Gazette specify commission at an enhanced rate depending on the default risk of the project.