Section 64: Security for loans taken by Board.

The Maharashtra Maritime Board Act, 1996.State Act of Maharashtra · Act 15 of 1997

All loans raised by the Board under this Act shall be a first charge on,-

(a) the property vested or which may hereafter during the currency of the loans become vested in the Board other than,-

(i) any sum set apart by the Board,-

(1) as sinking fund for the purpose of paying off any loan; or

(2) for the payment of pension to its employees; or

(ii) the provident pension fund established by the Board; and

(b) the rates leviable by the Board under this Act.

Where this provision sits

Act	The Maharashtra Maritime Board Act, 1996.
Section	64
Marginal note	Security for loans taken by Board.
Jurisdiction	State of Maharashtra
Status	In force as published by the source

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