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Section 6: Period for repayment of loans.

The Land Improvement Loans Act, 1883Central Act · Act 19 of 1883

(1) Every loan granted under this Act shall be repayable by instalments (in the form of an annuity or otherwise), within such period from the date of the actual advance of the loan, or, when the loan is advanced in instalments, [from the date of the advance of the last instalment actually paid] as may, from time to time, be fixed by the rules made under this Act.

(2) The period fixed as aforesaid shall not ordinarily exceed thirty-five years.

(3) The State Government ***, in making *** the rules fixing the period, shall, in considering whether the period should extend to thirty-five years, or whether it should extend beyond thirty-five years, have regard to the durability of the work for the purpose of which the loan is granted, and to the expediency of the cost of the work being paid by the generation of persons who will immediately benefit by the work.

Where this provision sits

ActThe Land Improvement Loans Act, 1883
Section6
Marginal notePeriod for repayment of loans.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 18 of 1899. . Subs. by Act 18 of 1899, s. 2, for "from the date of the actual advance of the last instalment".
  • omitted, Act 8 of 1906. . The words "and G. G. in C." omitted by Act 8 of 1906, s. 3.
  • omitted. . The words "and sanctioning" omitted by s. 3. ibid.

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