LawgistThe Faridabad Development Corporation Act
26Amount due to the Corporation to be first charge
(1) Notwithstanding anything contained in any other law, where a loan has been advanced to any person for the construction of a building or where a building has been transferred to any person, the amount due to the Corporation on account of the loan or transfer together with interest thereon shall be a first charge on the building so constructed or transferred.
(2) The Corporation may also take such further security as it may consider necessary for advancing any loan or for transferring any building.
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All sections
- 1 Short title
- 2 Definitions
- 3 Incorporation
- 4 Constitution of the Corporation
- 5 Term and conditions of service of member
- 6 Disqualification for being appointed, or for continuing as, member of the Corporation
- 7 Temporary absence of any member
- 8 Vacancies amongst members or defect in the constitution not to invalidate acts or proceedings of the Corporation
- 9 Committees of the Corporation
- 10 Meetings of the Corporation
- 11 Authentication of orders and other instruments of the Corporation
- 12 Appointment of Administrator and other officer of the Corporation
- 13 General duty of the Corporation
- 14 Powers of the Corporation
- 15 Capital of the Corporation
- 16 Grants and loans to the Corporation
- 17 Vesting of property in the Corporation
- 18 Repayment of capital and loan with interest
- 19 Corporation to have rights and liabilities of the Central Government in certain cases
- 20 Fund of the Corporation
- 21 Provision for depreciation and reserve and other funds
- 22 Power of the Corporation to spend
- 23 Budget
- 24 Annual report
- 25 Accounts and audit
- 26 Amount due to the Corporation to be first charge
- 27 Direction
- 28 Returns and reports
- 29 Mode of recovery of moneys due to the Corporation
- 30 Delegation of powers
- 31 Members and officers of the Corporation to be public servants
- 32 Removal of disqualification for membership of Parliament
- 33 Bar of legal proceedings
- 34 Validation of certain transactions
- 35 Power to remove difficulties
- 36 Power to make rules
