Amendment status not verified — confirm the current text below against the official source.
Powe1 of authonty sa11ctw11ing the loan to terminate azd.-( I) If the authority sanctronmg the loan is sati fied- (i) that the whole or any portion of the State aid given has Leen misapplied, or (u) that there has been a breach by the grantee of the aid of the provisions of this Act, or of any rule made thereunder or of any con- ditions of the grant, or (zit) that the application on which the State aid has been granted contained or was accompanied by, any material statement by the grantee of the aid which he knew to be false or d1d not believe to be true or any intentional concealment by him of any material fact, which in the opinion of the authority sanctioning the loan 1t was his duty to disclose, or that any such false statement or concealment was intentionally made in any inquiry made under this Act by or with the connivance of the owner or in any return under this Act or in 1·eply to any requisition for information under this Act, or (w) that the industry is being managed in such manner as to endanger the repayment of the value of State aid g1anted thereto rep.t- yable under thi:. Act, the authority may by order in writing terminate the State aid specifying the reason or reasons therefor. (2 ) No such order as mentioned in sub-section ( 1) shall be passed w ithout giving the grantee an opportunity to show cause within a specified time why action should not be taken under this section. (3) Where an order terminating the aid is made under sub. section (I), then, notwithstanding any th mg contained in this Act or m any other law, the authority sanctioning the aid may proceed to1ecover from the giantee of the aid, as arrea1s of land revenue,- (a) the entire amount of any loan outstanding together with interest a'> may be due thereon, 01 (b) in ca<;es where the aid is g1ven otherwise than by loan, the money value of the aid as fixed at the time when it was made, together with interest due the1 con, and (c) 1n the case mentioned in clause (a) orclause (b), the cost of recovery, and, if the Government so direct the cost of any inquiry made in connectjon therewith. (4) An order made under this section shall be final and shaJI not be called in question in any court of law. . J n . ' ';