FOOD CORPORATIONS (AMENDMENT) ORDINANCE, 2001
No. 4 OF 2001
Promulgated by the President in the Fifty-second Year of the Republic of India.
An Ordinance further to amend the Food Corporations Act, 1964.
WHEREAS Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action.
Now, THEREFORE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to promulgate the following Ordinance :—
Short title commence
1. (1) This Ordinance may be called the Food Corporations (Amendment) Ordinance, 2001.
(2) It shall come into force at once.
Amendment of Section 27 of Act 37 of 1964.
2. In section 27 of the Food Corporations Act, 1964, in sub-section {!), for the
proviso, the following shall be substituted, namely :—
"Provided that the amount borrowed by a food corporation under clause (b) shall not at any time exceed ten times the paid-up capital and the reserve fund established under section 33". |
