The Board may, with the previous sanction of Government, apply any sums out of moneys which may come into its hands under the provisions of this Act and which can be so applied without prejudicing the security of the other holders of the Board Securities in repaying to Government any sum which may remain due to it in respect of the principal of any loan although the time fixed for the repayment of the same may not have arrived:
Provided that, no such repayment shall be made of any sum less than ten thousand rupees; and that if such repayment is made, the amount of interest in each succeeding instalment shall be so adjusted as to represent exactly the interest due or the outstanding principal.
Provided that, no such repayment shall be made of any sum less than ten thousand rupees; and that if such repayment is made, the amount of interest in each succeeding instalment shall be so adjusted as to represent exactly the interest due or the outstanding principal.
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More sections of this act
Section 1 · Short title, extent, commencement and application.Section 2 · Definitions.Section 3 · Establishment of Maharashtra Maritime Board.Section 4 · Disqualification of members.Section 5 · Term of office of members.Section 6 · Removal of members of Board.Section 7 · Eligibility of appointment.Section 8 · Filling of vacancy.India Code, Government of India. Text fetched 21 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.