Section 42 in Punjab State Aid to Industries Act, 1935
42. Termination of hiring on payment of cost of machinery.
- When, after credit has been given for the amount deposited under section 36, has hirer has paid in full all the instalments of rent mentioned in clause (a) of section 37 and the amount of interest, costs and other charges payable by him under this Chapter, he shall become the owner of the machinery and shall thereupon remove from the same the metal plate mentioned in clause (e) of section 38 :Provided that if at any time during the hiring the hirer pays in advance the remaining instalments of rent the interest payable in respect thereof shall be remitted.
