Section 2: Establishment of Revolving Loans Fund for Industry

(1) There shall be established a fund (hereinafter referred to as "the fund") to be known as the Revolving Loans Fund for Industry.
(2) There shall be paid into the fund-
(a)
the sum of N400,000, being moneys made available for the purpose of establishing the fund from funds originally made available by the Government of the United States of America to the government of the United Kingdom for the purpose of promoting productivity in industry in the United Kingdom;
(b) such further sums as may from time to time be made available as aforesaid for the purposes of the fund; and
(c) such sums as may from time to time be paid to the fund by way of repayment of the principal of or payment of the interest on or other charge in respect of any loan made out of the fund.