Authority may call up loans etc obtained by false statement
46 Authority may call up loans etc obtained by false statement
If the Authority is satisfied that a person to whom it has granted assistance has made a statement to the Authority knowing it to be false or has otherwise wilfully misled the Authority (whether before or after the Authority granted the assistance) in or in relation to the application for the assistance, the Authority may, by notice served on the person—
call up any loan or other money provided as assistance, and
exercise its rights under any security relating to the loan or other money.
If the Authority calls up a loan or other money under this section, the money is due and payable as from the date specified in the notice calling up the money.
This Act’s bill:Explanatory memorandum
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