Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Entire Act]

State of Haryana - Section

Section 5 in The Haryana Legislative Assembly (Facilities to Members) Act, 1979

5. Security for repayment.

(1)On the acceptance of an application for an advance, the member shall execute a deed in the prescribed form, undertaking to use the advances for the purpose for which, and to fulfill the conditions on which, the advance is sanctioned, rendering himself and such property as may have been specified in the deed as security, [including the house built or flat] [Substituted for the words 'including the house built' by Haryana Act No. 26 of 2003.] with the aid of the advance;Provided that no advance for building the house shall be sanctioned unless the plot or land on which the house is to be built, is exclusively owned and possessed by the member applying therefor, and is free from all encumbrances:[Provided further that the advance for any of the purposes specified in clause (a) of section 3 shall be paid in such manner as may be prescribed.] [Substituted by Haryana Act 26 of 1980.]
(2)No transfer, assignment or charge made or created after the execution of the deed under sub-section (1), in relation to the property specified therein or the [the house built or flat] [Substituted for the words 'the house built' by Haryana Act No. 26 of 2003.] with the aid of the advance, shall be valid against the State Government, unless it has been made or created with its previous consent in writing.[5A. Eligibility for advance in certain cases. Notwithstanding anything to the contrary contained in section 5, a member who has been allotted a residential plot by the Haryana Urban Development Authority, the price of which has to be paid in instalments, shall be eligible for the payment of advance for building the house; if the member -
(i)has made initial payment towards the price of the plot;
(ii)has been put in possession of the plot; and
(iii)has been permitted by the Haryana Urban Development Authority to mortgage the plot to the Goverment.]