Amendment status not verified — confirm the current text below against the official source.
Insection 6 of the principal Act:— of section 6 II Af81956ACt (1) In the first proviso, the sentence “Security may * 0 3 ’ also include personal security” shall be omitted. Assam Act I of 1950. 4 (2) the second proviso shall be substituted as follows “Provided also that notwithstanding anything con tained in this Act, and subject to such rules as may be prescribed, the Director or the authority empo wered to issue loan may sanction loans upto one thousand rupees on personal bond of the applicant and upto two thousand and five hundred rupees on the security of one or more sureties (3) after the second proviso, the following provisos shall be added, namely:—■ “Provided that Government or the authority em powered to issue loan may sanction such loan on the personal bond of the applicant and one or more personal sureties as considered adequate and reason able subject to a maximum of Rs.7,500 in case of political sufferers who are certified as such by the competent authority and. who are in need of rehabili tation through productive work. A political sufferer who is in receipt of a pension from the State Government for participation in any National Movement shall not be entitled to the b~nc- fit of this proviso: Provided further that the Government or the authority empowered to issue loan may sanction such loan without security to a Co-operative Society owning Small or Cottage Industries upto a maximum of fifteen times of the paid-uo share capital of such Co-opera tive Society subject to production of a certificate from the Registrar of Co-operative Societies, Assam”. Deletion of section 7 of Assam Act II of 1956. Amendment of section 8 of Assam Act II of