- The Government may, after consulting the board of the State [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Bank and the Trustee -

(a) by notification; and

(b) by notice for not less than fourteen days in such of the principal newspapers in the State of Tamil Nadu and of other States as the Government may select in this behalf, discontinue any guarantee given by them in respect of the debentures issued under section 116 or restrict the maximum amount thereof or modify, the conditions subject to which it is given, with effect from a specified date, not being earlier than six months from the date of publication of the notification.