Board's power to recover the cost of the scheme from the beneficiary Panchayats.

13. Board's power to recover the cost of the scheme from the beneficiary Panchayats.— (1) It shall be lawful for the Board to recover from a Panchayat in such annual instalments as may be decided upon in consultation with the Panchayat concerned, the whole or any portion of the expenditure incurred or the loans advanced by the Board for the execution of any of the schemes under this Act together with interest, if any payable there on. (2) If any panchayat fails to pay the amount as decided upon, under sub-section (1) to the Board, it shall be re-coverable from the Panchayat in the manner laid down in the Kerala Local Authorities Loans Act, 1963 (30 of 1963).