State Act
64
Section 64. Security for loans taken by Board.
The Maharashtra Maritime Board Act, 1996.
Act no. XV of 19971997In forceMaharashtra (State Act)
64. Security for loans taken by Board.— 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.