Amendment status not verified — confirm the current text below against the official source.
Substituted for clausc ( I ) by h e Yunjab ACL 39 of 1953. , , .. .. . 1935 : Pb. Act V ] . ST.4TE AID TO INDUSTRIES 263 purchased or any building constructed with the aid of rhe loan. and in the cvcnt of such propefiy being found insulficient, rendering thc whole of his property liable for the repayment of the loan wilh intercsl and costs, if any, incurred by rhe State Government in making or rccovcring the loan. (b) No transfer, assignment, or charge made or created after the cxccution of the deed, in relation to the property specified herein or machinery purchased or building constructed with the aid of the loan, shall be valid against, the State Government unless it has been made or creakd wilh the previous consent in writing of he authority sanctioning thc loan.] (2) When the application has been made by a fm or,campany the deed shall be executed by a duly authorized representative thereof ,-dnd the deed shall thereupon be deemed binding on the said firm or company . . , and the property of the said firm or company shall bc liablc for Lhc rcpaymcn t 01 thc loan in h e same manner as if thc loan had bcen granted . . lo an individual. , ..