34.
| (1) The Board may call upon any person to whom a loan has been granted to satisfy the Board that the loan has been or is being applied for the purpose for which it was granted, and the person so called upon may adduce evidence before any director or any other person appointed in writing for the purpose, to prove that the loan has been or is being applied for such purpose. |
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| (2) If the Board is not satisfied that the loan has been or is being applied for the purpose for which it was granted it may by an order direct that within the time named therein either the loan be repaid in full with interest or a sum equal to the loan be applied for the said purpose. |
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| (3) Where an order made by the Board under subsection (2) is not complied with, default shall be deemed to be made in respect of the whole of the unpaid portion of the loan and the interest due thereon up to date, and the provisions of Part V of this Law shall apply accordingly. |
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Sri Lanka Consolidated Acts