Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything contained contrary to this in this Act, if the Fisheries Deputy Director concerned reports to the Commission that the net or traditional or mechanised vessels used for fishing by the fishermen in the fishing villages of disaster affected area or otherwise, is lost or irrepairably damaged due to sea erosion or other disasters, the Commission may recommend to the Government to take over the debt not exceeding the maximum amount fixed from time to time through Gazette Notification regarding repayment of loan. (2) The Commission may issue orders to the Fishermen Co-operative Society concerned for granting new loan to the fishermen for acquiring new fishing equipments for replacing the lost or irrepairably damaged and accordingly the society concerned shall take steps for granting new loan. (3) No person other than institutional creditor and financial institution shall take any fresh steps against the fisherman for the recovery of the arrears to be paid by such fisherman until the Government issue orders taking over the debt on the basis of the recommendation of the Commission under sub-section (1), or the Commission finds that not eligible for debt relief and any suit, application, appeal, petition or any other action initiated or being proceeded shall be kept in abeyance. Explanation.-- "Fishing Village" means a fisheries Village notified under Section 3 of the Kerala Fishermen Welfare Societies Act, 1980 (Act 7 of 1981)] Inserted by Act 38 of 2018, (w.e.f. 20/10/2018).