Amendment status not verified — confirm the current text below against the official source.
In the principal Act, after section “TiaV the following new section shall be in- £<* serted, namely :— I of lrfcl. w "11 A (1) Where advance is made against hypothecation of assets, the Mort gage Bank shall have power to put the assets on sale for default by the borrower of payment of instalment due. *96 THE ASSAM GAZETTE. EXTRAORDINAR Y MAY 12, 1990 (2) No such power shall be exercised unless;— (a) notice in writing requiring pay ment of instalment due has been served upon the borrower; and (b) default has been made in pay ment of such instalments due for three months after such service.” Amendment ot section 12