LawgistThe Rehabilitation Finance Administration Act
15Mode of recovery
If the amount of loan or any instalment thereof or interest thereon which is due, in accordance with the terms of the contract or under the provisions of section 14, has not been repaid, the Administration may,—
(a) without prejudice to any other remedy provided by law, recover such loan, instalment or interest as arrears of land revenue, or
(b) take charge of the business or industry of the borrower on such terms and conditions as it may deem fit.
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All sections
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Establishment and incorporation
- 4 Constitution of the Administration
- 5 Advisory Board
- 6 Terms of office of the members of the Administration and the Advisory Board
- 7 Disclosure of interest
- 8 Removal from membership
- 9 The Chief Administrator
- 10 Staff
- 11 Funds of the Administration
- 12 Business of the Administration
- 13 Loans
- 14 Power to call for repayment before agreed period
- 15 Mode of recovery
- 16 Accounts and audit
- 17 Power of inspection
- 18 Returns
- 19 Power of Central Government to give direction
- 20 Exemption from taxes
- 21 Liquidation of the Administration
- 22 Delegation
- 23 Power to make rules
- 24 Power to make regulations
- 25 Laying of rules and regulations before Parliament
