The Faridabad Development Corporation Act

Short title

Definitions

Incorporation

Constitution of the Corporation

Term and conditions of service of member

Disqualification for being appointed, or for continuing as, member of the Corporation

Temporary absence of any member

Vacancies amongst members or defect in the constitution not to invalidate acts or proceedings of the Corporation

Committees of the Corporation

Meetings of the Corporation

Authentication of orders and other instruments of the Corporation

Appointment of Administrator and other officer of the Corporation

General duty of the Corporation

Powers of the Corporation

Capital of the Corporation

Grants and loans to the Corporation

Vesting of property in the Corporation

Repayment of capital and loan with interest

Corporation to have rights and liabilities of the Central Government in certain cases

Fund of the Corporation

Provision for depreciation and reserve and other funds

Power of the Corporation to spend

Budget

Annual report

Accounts and audit

Amount due to the Corporation to be first charge

Direction

Returns and reports

Mode of recovery of moneys due to the Corporation

Delegation of powers

Members and officers of the Corporation to be public servants

Removal of disqualification for membership of Parliament

Bar of legal proceedings

Validation of certain transactions

Power to remove difficulties

Power to make rules

All sections

The Corporation shall repay, at such intervals
and on such terms as the Central Government may determine, the amount of capital provided under
section 15 and all loans advanced under section 16 with interest at such rate as may, from time to time, be
fixed by that Government and such repayment of capital or loan or payment of interest shall be deemed to
be part of the expenditure of the Corporation.


LAWGIST

# 18 Repayment of capital and loan with interest