Statistics Act, 1999
R 385
Land and Agricultural Development Bank Act, 2002 (Act No. 15 of 2002)Part III : Funds and Business of Bank28. Application for advance |
| (1) | The Bank may not make an advance to any person— |
| (a) | unless that person has submitted a written application indicating the purpose for which the advance is required; |
| (b) | unless that person has met every condition imposed by law or by the Bank in respect of the advance or any matter or thing associated with the advance; |
| (c) | until every condition pertaining to the security which is proposed to be given in respect of the advance has been met; |
| (d) | until a valuation of the security or any other thing has been completed to the satisfaction of Bank; and |
| (e) | until the Bank has, in writing, approved the application and a written agreement has been entered into for the purposes of the advance. |
| (2) | The Bank may not provide any agricultural or rural financial service out of the funds of the Bank to any person where such provision might create a conflict of interests unless there has been compliance with section 21. |
