LOANS ACT - 1970 (ACT 335)

    Section - 11 - National Assembly may Approve Standard Terms of Agreements.

    (1) The National Assembly may if it thinks fit, by resolution approve from time to time standard terms and conditions of agreements for the purposes of sections 7 and 10 of this Act and up to such limits as the National Assembly may by resolution prescribe.

    (2) Where the National Assembly has approved any terms and conditions under subsection (1) of this section any agreement entered into by the Government in the terms and conditions so approved and within the limits prescribed by the National Assembly shall come into operation in accordance with its terms and without the need for further approval of the National Assembly.

    (3) The National Assembly may, notwithstanding anything in this section, by resolution request that any particular agreements or classes of agreements shall be brought before it for further approval before they shall come into operation and no agreement in respect of which such a request has been made shall come into operation without such approval, and the National Assembly may in any case by resolution, revoke or vary any approval granted under subsection (1) of this section so far as concerns agreements to be entered into after such revocation or variation.

    (4) The Minister shall cause agreements entered into by virtue of an approval granted under subsection (1) of this section to be laid before the National Assembly as soon as practicable after they have been entered into.