Retrospective application of the Act to prior loans

Notwithstanding anything contained in any law for the time being in force and the provisions of this Act every loan granted since the first day of March, 1947 to a displaced person for his rehabilitation by the State Government or by any officer or authority subordinate to the State Government shall, for the purpose of its recovery, be deemed to be a loan granted under this Act and the provisions of this Act relating to re-payment and recovery of loan shall apply to such loan.