Section 31(d) in Punjab State Aid to Industries Act, 1935
(d)that during the period to which the guarantee extends, the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government may impose on such persons as it considers to be directly concerned in the promotion of the company, a condition that if they transfer any of their shares without the consent of the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government, they shall be liable jointly and severally to refund the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government any sums paid to the company in fulfilment of the guarantee;
