Priorities of liabilities of the Board

The revenues of the Board shall, after making its complete expenses, as far as they are available, in the following order; namely- (a) the repayment of principal amount of, and interest on loans advanced to the Board by the State Government, including arrears of such interest; (b) the repayment of principal amount of, and interest on, sums paid by the State Government under guarantees, if any; (c) the repayment of principal amount of, and interest on bonds, guaranteed by the State Government; (d) the repayment of principal amount of, and interest on stock so guaranteed; (e) the repayment of principal amount of and interest on stocks, not guaranteed by the State Government; (f) the repayment of principal amount of and interest on bonds, not guaranteed by the State Government.