Section 21: Terms and conditions for loans and guarantees

(1)
The standard terms and conditions approved by the National Assembly shall form the basis for the negotiation and acceptance of external loans and issuance of guarantees.
(2) Where the National Assembly has approved the standard terms and conditions under subsection (1) of this section, any agreement entered into by the Federal Government shall on operation without further reference to the National Assembly where the terms and IS are in conformity with the terms and conditions.
(3)
Notwithstanding the provisions of subsection (2) of this section, the National Assembly may by a resolution request that a particular agreement be brought before it for approval.
(4)
No agreement in respect of which the approval of the National Assembly is required shall come into operation without such approval.