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Land and Agricultural Development Bank Act, 2002 (Act No. 15 of 2002)

Part I : Fundamental Principles and Interpretation

3. Objects of Bank

 

 

(1) The objects of the Bank are the promotion, facilitation and support of—
(a) equitable ownership of agricultural land, in particular the increase of ownership of agricultural land by historically disadvantaged persons;
(b) agrarian reform,  land redistribution or development programmes aimed at historically disadvantaged persons or groups of such persons for the development of farming enterprises and agricultural purposes;
(c) land access for agricultural purposes;
(d) agricultural entrepreneurship;
(e) the removal of the legacy of past racial and gender discrimination in the agricultural sector;
(f) the enhancement of productivity, profitability, investment and innovation in the agricultural and rural financial systems;
(g) programmes designed to stimulate the growth of the agricultural sector and the better use of land;
(h) programmes designed to promote and develop the environmental sustainability of land and related natural resources;
(i) programmes that contribute to agricultural aspects of rural development and job creation;
(j) commercial agriculture; and
(k) food security.

 

(2) The Bank must achieve its objects by—
(a) providing financial services to promote and facilitate access to ownership of land for the development of farming enterprises and for agricultural purposes by historically disadvantaged persons;
(b) providing financial services in support of any of its objects;
(c) facilitating and mobilising private sector finance to the agricultural sector; and
(d) providing such assistance as is necessary for carrying out the objects of the Bank.