section 18
Board’s duty to determine paying capacity.
The Goa Debt Relief Act, 1980Finance198030 sections6 chapters
Chapter V Chapter V
Statutory text
- (1) After taking account under section 16, the Board shall, in the manner provided in sub-section (2) determine the paying capacity of the debtor.
- (2) The paying capacity of the debtor shall, for the purposes of this Act, be deemed to be—
- (a) seven times of twenty per cent. of the gross value of—
- (i) his annual family income in the case of agricultural labourer or a rural artisan, or
- (ii) the annual agricultural produce of his land in the case of small farmer; or
- (b) the amount equivalent to twice the principal amount, whichever is lower.
- (a) seven times of twenty per cent. of the gross value of—
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