Section 19(14) in The Sugar Development Fund Rules, 1983
(14)Subsidy towards interest, storage and insurance:The Central Government may authorise payment for every quarter year or part thereof [to every sugar undertaking in respect of a sugar factory or such sugar factories which have] [Substituted vide GSR 599 dated 30.07.2012.] (a) set apart the required quantity of sugar [or a part thereof] [Inserted vide GSR 817(E) dated 20.12.84 for as buffer stock.][Provided also that where the occupier of a sugar factory has utilised the advance buffer stock subsidy received from the Central Government for the period from 18th December, 2002 to 17th December, 2004, as provided In clause (b) of sub-rule (13A), such sugar factory may submit the remaining documents required to complete the claim within three months from the date of publication of this notification in the Official Gazette.Provided also that the Central Government may, for the reasons to be recorded in writing, permit all such sugar factories to submit the remaining documents required to complete the claims, within such further period not exceeding three months.] [Inserted vide GSR 365(E) dated 28.5.09.](b)pledged [the buffer stock] [Substituted vide GSR 817(E) dated 20.12.84 for the words 'by it'.] with any scheduled bank for the time being included in the second schedule to the Reserve Bank of India Act, 1934 (2 of 1934) or any State Co-operative bank Central Co-operative bank 'as defined in the National Bank for Agricultural and Rural Development Act, 1981 (61 of 1981);(c)[maintained the buffer stock] [Substituted vide GSR 817(E) dated 20.12.84 for 'maintained it'.] in accordance with these rules, and to the satisfaction of the Central Government, of an amount calculated in the manner provided in sub-rule (15), towards subsidy for the storage, insurance and interest charges:[Provided that where a sugar factory has not pledged the buffer stock with any scheduled bank, subsidy on account of storage and insurance charges may be authorised for payment by the Central Government as admissible under sub-rule (15) if the buffer stock has otherwise been sequestered, maintained and insured in accordance with the provisions of this rule,] [Inserted vide GSR 817(E) dated 20.12.84.]Provided [further] [Inserted vide GSR 817(E) dated 20.12.84.] that the amount of subsidy payable on account of interest charges shall be the amount calculated under sub-rule (15) or the amount of interest charges actually paid or payable by the sugar undertaking for the quarter or part thereof on the loan or advance received by it on pledging with the bank, the quantity of sugar maintained by it as buffer stock, whichever is less [subject to the condition that where the amount of interest charges actually paid or payable by the sugar undertaking is lower, it shall where necessary, further be restricted to the amount calculated at the maximum rate of bank interest fixed by the Reserve Bank of India hi this behalf but not exceeding the rate of 18 percent per annum] [Inserted vide GSR 817(E) dated 20.12.84;]Provided further that no payment shall be authorised, unless the Central Government in exceptional circumstances decides otherwise) [to the occupier of a sugar factory] [Substituted vide GSR 817(E) dated 20.12.84 for to the occupier of every sugar factory.] which has not-(a)Paid the cess on sugar under section 3(3) of the Sugar Cess Act, 1982 (3 of 1982);(b)Furnished the return(s)/information required rule 4 of the Sugar Cess Rules, 1982;(c)Complied with the provisions of sub-rule (13); and(d)furnished to the Central Government or the Chief Director the monthly return of the quantity of non-levy sugar sold and the amount of the sale-proceeds.Explanation: (1) For the purpose of this rule, the months January to March, April to June, July to September: and October to December of a calendar year shall form the quarterly periods.
