Amendment status not verified — confirm the current text below against the official source.
Mode of dealing with application for loans.—(1) When an application for a loan is made under this Part, the authority to whom the application is made may if it is in the opinion of the authority expedient that public notice be given of the application, publish a notice in such manner as may be prescribed, calling upon all persons objecting to the loan to appear before the authority at a time and place fixed therein and submit their objections. (2) The authority shall consider every objection submitted under sub-section (1), and make an order in writing either admitting or over-ruling it.