State Act
21
Section 21. First Charge of Corporation's loans on debtor`s property.
Act no. 33 of 19781978In forcePunjab (State Act)
21. Notwithstanding anything contained in any law for the time being in force, but subject to the provisions relating to priority of charge in any law made by Parliament and to any prior charge of the prescribed financing institutions or any prior claim of the Government in respect of Land Revenue or any money recoverable by it as arrears of land revenue, a loan advanced by the Corporation under this Act together with the interest accrued thereon and costs of its recovery, shall be first charge on the property of the debtor.