Amendment status not verified — confirm the current text below against the official source.
(1) If the machinery is seized and taken away to purchas - um!fer.v selle.ed’?:r under section 39 the hirer I31&11 have the option to be default. exercised within one month after such a seizure O such longer period as may be allowed by the Director in this behalf, of purchasing the same by payment o the Director of the unpaid balance of the cost thereof together with such other amounts as may be due, an the cost of any expenses incidental to such seizure an removal. e i by { Substiluted for the words “property of the Local GOVe”““lent the Government of .Indla (Adaptation of Indian Taws) Order, ¢ Laws 2Substituted for the word “Crown” by the Adaptatlon © Order, 1950, T - P F h | s 1935 : Ph. At v ) AID TO INDUBTRIES 971 ( 1)&12) }Ilf Wwithin the period ~specified in sub-section h D}e irer does not exercise the option of purchase, € Director shall proceed to dispose of the machinery. .41‘ If the Director terminates the hiring under " of section 39 and the hirer does not purchagse thenaran ™ terpip machinery under section 40, the hirer shall not be en-nation :e’cfl:,',‘:“,g txtle§ to the refund of the sum deposited by him underand 26, section 36 or to the refiund or remission of any pay- ment made by or due from him during the hiring, and shall be liable to pay such amount, if any, as the Direc- tor may determine in respect of any loss caused by the disp_osal of the machinery under sub-section (2) of section 40. 42, When, after credit has been given for th? Termination of amount deposited under section 36, the hirer -has paid,l;‘:,i,'{'og"?o.z o= in full all the instalments of rent mentioned in clause of machinery. (a) of section 37 and the amount of interest, costs and other charges payable by him under this Chapter, he shall become the owner of the machinery and shall thereupon remove from the same the metal plate mentioned in clause (e) of section 38 : Provided that if at any time during the hiring the hirer pays in advance the remaining instalments of rent the interest payable in respect thereof shall be remitted.