12. Power of Government to grant urgent loans

Where a local authority in its application desires the immediate grant, or sanction to the raising of a loan on the ground that funds are urgently needed for any of the purposes mentioned in sub-s. (1) of S. 3 of the Act, the Government or the authority authorised under rule 6 as the case may be, if it is satisfied that the loan is urgently needed for any purpose, may, notwithstanding anything contained in rules 8*[....J and 11 after such inquiry, if any, as it thinks fit to make, grant, or sanction the raising of, such loan at any time after the receipt of the application.

* Omitted by SRO. 486/80 Published in Kerala Gazette No. 23 dated 3-6-1980