Section 9 in The Bihar State Aid to Industries Rules, 1959
9. Nature of security to be taken under Sections 7 and 8.
(1)For a loan to be given on the basis of security for a period exceeding one year the security may include-(a)immovable properties;(b)machineries of permanent or semi-permanent nature whose life is not less than the period of the loan;(c)such bonds as may be considered suitable by Government for security.The manner of regulating expenditure under the first proviso to Section 7(1)-(2)(i)The expenditure shall be incurred according to the scheme approved by the State Government.(ii)No expenditure shall be incurred on any item without the prior approval of the Director of Industries unless it has already been approved by the State Government.(iii)All disbursements out of the loan shall be made under the joint signature of the nominee of the State Government and the loanee.
