Section 80
Power of Board to repay loans before due date
The Major Port Trusts Act, 1963
About this Act
An Act to make provision for the constitution of port authorities for certain major ports in India and to vest the administration, control and management of such ports in such authorities and for matters connected therewith.
A Board may, with the previous sanction of
the Central Government, apply any sums, out of moneys which may come into its hands under the
provisions of this Act and which can be so applied without prejudicing the security of the other holders of
Port Trust securities, in repaying to the Government any sum which may remain due to it in respect of the
principal of any loan although the time fixed for the repayment of the same may not have arrived:
Provided that no such repayment shall be made of any sum less than ten thousand rupees; and that, if such repayment is made, the amount of interest in each succeeding instalment shall be so adjusted as to represent exactly the interest due on the outstanding principal.
Provided that no such repayment shall be made of any sum less than ten thousand rupees; and that, if such repayment is made, the amount of interest in each succeeding instalment shall be so adjusted as to represent exactly the interest due on the outstanding principal.