Amendment status not verified — confirm the current text below against the official source.
When the application for a loan has been sanc- tioned the applicant shall execute a bond in the pres- cribed form undertaking to apply the money to the pur- pose or purposes for which, and to fulfil the conditions on which, the Joan is granted and shall undertake that if it is not used for such purposes or if there is any breach Of such conditions, the amount of the loan shall be re- coverable from him in the prescribed manner.