Bare Act
The Punjab Distressed Person (Facilities for Loans) Act, 1958
Finance19584 sections
This law empowers the State Government to provide loans to people suffering financial hardship caused by natural disasters such as floods, famines, or earthquakes. The Act allows the government and the Financial Commissioner to make rules regarding how these financial aids are given and recovered. Once the money is repaid, any remaining debt along with interest is treated as an arrears of land revenue, meaning it can be collected like taxes from the borrower or their guarantor. If multiple people borrow together, they are all responsible for the total amount, and their individual shares must be recorded in writing to establish legal responsibility.
PDF: pending for this language.