Section 16 in The Pepsu Townships Development Board Act, 1954
16. Amount due to the Board to be first charge.
- Notwithstanding anything contained in any law for the time being in force, where a loan has been advanced to a displaced person under clause (c) of sub-section (2) of Section 15, or where a building or site has been sold or leased or let out on hire under clause (d) of that sub-section to any person, the amount due to the Board on account of the loan, sale, lease or hire together with any interest thereon, shall be a first charge on the building machinery, stock and other assets belonging to such person.
