Fire Damage Relief Act 1967
7Loans and gifts of money repayable if misapplied, &c.
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7 Loans and gifts of money repayable if misapplied, &c.
If a person to whom a loan under section three or a gift of money under section four has been made –
(a) applies the money lent or given to him for any purpose other than the purpose for which it was lent or given or otherwise than in conformity with the terms and conditions upon and subject to which it was lent or given; or
(b) in the case of a person to whom a loan or gift of money has been made for the purpose of enabling him to carry on or to continue to carry on, or to resume the carrying on of, any industry, trade, business, undertaking, or operations, ceases, within such period (not exceeding ten years) after the date of the making of the loan or gift, as the Minister may determine, to carry on the industry, trade, business, undertaking, or operations –
the amount of the loan or gift or, as the case may be, any part of the loan that has not been repaid to the Minister becomes payable to the Minister forthwith.