POWERS TO CALL FOR REPAYMENT BEFORE AGREED PERIOD

Notwithstanding any agreement to the contrary, the Board may, by notice require any person to whom a loan has been advanced under this Act to repay forthwith in full with interest thereon any such loan.

1. (a) If it appears to the Board that false or incorrect information in any material particulars has been given by the person for obtaining the loan;
2. (b) If the person has failed to comply with any terms of the contract with the Board in respect of the loan; or
3. (c) If in the opinion of the Board there is a reasonable apprehension that the person is unable to pay his debt or that insolvency proceedings or proceedings for liquidation are to be started against him; or
4. (d) If it is necessary in the opinion of the Board for any other reason to protect the interests of the Board.