19. Interest on Government loans
- In the case of Government loans interest shall be charged, at the rate agreed upon yearly or half-yearly, as the Government may determine and shall be reckoned and paid on each installment from the date on which such installment is received by the local authority.
- The Government may, if they think fit, direct that compound interest at a rate not less than 7 '/ per cent per annum shall be paid upon all overdue installments of interest or principal and interest.