646. Power of smallholdings authorities to make loans and guarantees.

646.     Power of smallholdings authorities to make loans and guarantees.

A smallholdings authority1 may make loans for the purpose of providing working capital2 for a tenant of a smallholding provided by it3, or for an intending tenant, or may guarantee the repayment of and the payment of interest on any loan made for that purpose by another person4, but no such loan or guarantee5 may exceed three-quarters of the aggregate working capital which, in the authority's opinion, is required for the proper working of the holding6, and no loan may