Section 18Section 18

s. 18

18 [(1) The Corporation may, for the purpose of carrying out its functions, raise fund in the following manners, namely :- (a) accepting deposits or any other fund in such terms and conditions as may be determined by the Government; and (b) with the prior approval of the Government, raise funds by issuing bonds and debentures carrying interest at such rates as may be approved by the Government : Provided that the total amount due by the Corporation on such bonds and debentures and on other liabilities, contingent or otherwise of the Corporation, shall not at any time be allowed to exceed fifteen times of the aggregate amount of the paid-up share capital and the reserve fund of the Corporation. (2) The repayment of the principal and the payment of interest due on the bonds and debentures issued by the Corporation shall be guaranteed by the Government.]

1. 22. Article 18 was substituted by section 16 of Bangladesh House Building Finance Corporation (Amendment) Act, 2021 (Act No. XXV of 2021).