S.L. 328.2 Art. 9Conditions of loan.

(1) The loan mentioned in clause 3(1) and made for any of the purposes mentioned in clause 5 shall be borrowed from a financial institution approved by the Director and the amount of the loan which shall attract a subsidy under this Scheme shall not exceed the maximum limit as laid down in clause 10.

(2) The loan shall be repaid within a maximum period of twenty-five years depending on the income of the beneficiary in accordance with the terms agreed upon between the beneficiary and the aforesaid financial institution.