section 9
Default in complying with an order under section
The East Punjab Refugees Rehabilitation (House-building Loans) Act, 1948Finance194815 sections
Statutory text
- (1) If the borrower fails without reasonable cause to comply with any order under section 8, or
- (ii) if the Controlling Authority, after inspection provided for in section 8, or otherwise, is satisfied that the money lent is not being applied to the purpose or purposes for which it was lent or that the conditions on which it was lent are not being duly fulfilled, the Controlling Authority may declare notwithstanding anything contained in the bond executed by the borrower that the loan is immediately recoverable and shall give notice of such declaration to the borrower and the surety or sureties, if any.
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