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[Cites 0, Cited by 0] [Section 6] [Entire Act]

State of Odisha - Subsection

Section 6(2) in The Orissa Legislative Assembly Members' Jeep, Motor Cycle, Scooter or a Like Vehicle Advance Rules, 1986

(2)If the jeep, motor cycle, scooter or a like vehicle is so sold before the advance together with the interest thereon has been fully recovered, the sale proceeds shall be applied, so far as may be necessary towards the repayment of the outstanding balance :Provided that when the jeep, motor cycle, scooter or a like vehicle is sold only for the purpose of purchasing another such vehicle, the Governor may permit the member to apply the sale proceeds towards such purchase, subject to the following conditions, namely :
(a)the amount outstanding shall not exceed the cost of the vehicle to be purchased;
(b)the amount outstanding shall continue to be recovered at the rate previously fixed; and
(c)the vehicle so purchased shall be insured and mortgaged in favour of the Government.