Amendment status not verified — confirm the current text below against the official source.
7* All loans granted or deemed to have been granted under this Act, together with all interest (if any) chargeable thereon, and costs ( if any) incurred in making or recovering the same shall be recoverable at the discretion of the Collector in any one or more of the following modes , namely :- (a) from the borrower – as if they were arrears of land revenue due by him ; (b) from his surety (if any) – as if they were arrears of land revenue due by him; (c) out of the assets left by a deceased borrower or surety or out of the property comprised in the collateral security (if any) – according to the procedure for the realization of land revenue by the sale of a defaulter’s moveable or immovable property other than the land on which that revenue is due; (d) if the loan is for the benefit of a house , out of such house ,- as if it were arrears of land revenue due in respect of the land on which the house stands. 8 6. (1) The 9[ Provincial Government ] may, from time to time , by notification in the 10[Official Gazette], make rules to carry out the purpose of this Act. (2) In particular and without prejudice to the generality of the generality of the forgoing power, such rules may be made for the following matters, namely:- (a) the manner of making applications for loans; (b) the officers by whom loans may be granted; (c) the nature of the security, if any, to be taken for the due application and repayment of the money, the rate of interest at which and the conditions under which the loans may be granted and the manner and term of granting loans; and (d) the installments by which and the mode in which loans shall be repaid. 5 & 6 Goe. V. c.61. Purpose for which loans may be granted. Loans already granted to be deemed to have been granted under Act. XII of 1884. Recovery of loans. Power to make rules. ------------------