Section 1. The entry relating to the Commissioners for the port of Chittagong, omitted by the A. O. 1948

1. The entry relating to the Commissioners for the port of Chittagong, omitted by the A. O. 1948. 1. The Act has been amended in its application to the C.P. by the Local Authorities Loan (C.P. Amendment) Act, 1922 (C.P. 1 of 1922). It has been partially extended to Berar by the Berar Laws Act, 1941 (4 of 1941). 2. Subs. by the A.O. 1950, for sub-section (2). 3. Subs. by the Adaptation of Laws (No. 2) Order, 1956, for "Part B States". 4. Ins. by the A.O. 1937. (v) the repayment of money previously borrowed in accordance with law: Provided that nothing in clause (v) shall be deemed to empower a local authority to fix a period for the repayment of any money borrowed thereunder which, when the period fixed for the repayment of the money previously borrowed is taken into account, will exceed the maximum period fixed for the repayment of a loan by or under any enactment for the time being in force: 1 [Provided further that, in the case of loans other than loans made by the 2 [appropriate Government], no amount exceeding twenty-five lakhs of rupees shall be borrowed unless the terms, including the date of flotation, of such loan have been approved by the[3] [appropriate Government].] (2) Nothing in this section shall be deemed to authorize any local authority— (a) to borrow or spend money for any purpose for which, under the law for the time being in force, it is not authorized to apply its funds, or (b) to borrow money by means of the issue of bills or promissory notes payable within any period not exceeding twelve months. 4. Power to Government to make rules .—(1) The 2[appropriate Government] may make 4rules consistent with this Act as to— (i) the nature of the funds on the security of which money may be borrowed; (ii) the works for which money may be borrowed; (iii) the manner of making applications for permission to borrow money; (iv) the inquiries to be made in relation to such loans, and the manner of conducting such inquiries; (v) the cases and the forms in which particulars of applications and proceedings, and orders thereon, shall be published; (vi) the cases in which the 2[appropriate Government] may make loans 5[* * *]; 6[(vii) the cases in which local authorities may take loans from persons other than the 2[appropriate Government];] (viii) the manner of recording and enforcing the conditions on which money is to be borrowed; (ix) the manner and time of making or raising loans; (x) the inspection of any works carried out by means of loans; (xi) the installments, if any, by which loans shall be repaid, the interest to be charged on loans, and the manner and time of repaying loans and of paying the interest thereon; 1. Ins. by Act 38 of 1920, s. 2 and Sch. I. 2. Subs. by the A.O. 1937, for "L. G". 3. Subs., ibid ., for "G. G. in C.".