Amendment status not verified — confirm the current text below against the official source.
(1) The State Government may, on the application made by the Administrator in this behalf, advance moneys to the company for the purpose of efficiently managing the business of the company and all such moneys shall be repaid by the company with such interest as may be prescribed. (2) Any money advanced to the company under sub-section (1) shall, subject to the prior payment of municipal rates and any sum due to Government on account of taxes or fees, be a first charge upon the undertaking of the company.