(b) where the advance is repayable by 2 or more
owners, the lands of each of those owners,
or over such of those lands as the
Minister considers sufficient, whether those lands are the lands in respect of
which the advance was made or not.
(2) Such deed of charge shall, where the
works are to be carried out by any person or body, including the owner, other
than the Minister, be expressed to be made between the owner of the lands and
the Authority, and where the works are to be carried out by or on behalf of
the Minister, be expressed to be made between the owner of the lands, the
Minister and the Authority, and shall provide for the repayment of the amount
advanced to such owner by consecutive half-yearly instalments within a period,
not exceeding fifteen years, determined by the Minister, together with
interest as aforesaid on the amount owing from time to time, and shall
contain:
(a) a condition to the effect that in the event of the owner failing
to maintain the works in respect of which the advance is made to the
satisfaction of the Minister or failing to observe the conditions as to land
use or otherwise specified in the statement furnished to the owner in
pursuance of section 22C, the whole of the principal and interest secured by
the charge shall at the option of the Authority become immediately due and
payable, and
(b) such other powers, covenants, provisions, conditions and
clauses as the Authority determines.
(3) Where any works are to be carried
out by or on behalf of the Minister such deed of charge shall be executed by
the owner before the commencement of the construction of the works and where
any works are to be carried out by any person or body, including the owner,
other than the Minister, such deed of charge shall be executed by the owner
before any advance is made to the owner.
(4) Any sum payable under a deed of
charge under this section shall be paid to the Authority and shall, until so
paid, be and remain a charge in its favour on the land mentioned in the deed,
and shall be recoverable by the Authority in any court of competent
jurisdiction from the owner of the land for the time being.
(5) If the
Minister so approves, the repayment of an advance made under this Act,
together with interest, may be secured partly by a deed of charge and partly
in some other manner approved by the Minister or wholly in some other manner
approved by the Minister.
