Agricultural Mortgage Corporation Ltd

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A corporation established to grant loans to farmers against mortgages on their land by the Agricultural Credits Act 1928. The AMC offers loans for periods of 5 to 30 years. The capital of the corporation is supplied by the Bank of England, the commercial banks, and by the issue of state-guaranteed debentures. The corporation's loans are irrevocable except in cases of default and are usually made through the local branches of the commercial banking system.

Subjects: Business and Management.

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