Section 21

Where by reason of the breach of any condition of an agreement between the Board and an enterprise, the Board becomes entitled to call for the immediate payment of any loan, advance or incentive granted by it before the due date or where the due date has expired, and the enterprise fails to repay the loan, advance or incentive, any officer of the Board generally or specially authorised by the Board in that behalf may apply to the High Court for one or more of the following reliefs:

An application under subsection (1) shall state the nature and extent of the liability of the enterprise to the Board, the ground on which it is made and such other particulars as may be prescribed.

Where the application is for the reliefs mentioned in subsection (1)(a) and (c), the Judge shall make an interim order attaching the security or so much of the property of the enterprise as would on being sold realise in his estimation an amount equivalent in value to the outstanding liability of the enterprise to the Board, together with the costs of the proceedings taken under this section with or without an interim injunction restraining the enterprise from transferring or removing its machinery or equipment.

Where the application is for the relief mentioned in subsection (1)(b), the Judge shall grant an interim injunction restraining the enterprise from transferring or removing its machinery or equipment and issue a notice calling upon the enterprise to show cause on a date to be specified in the notice as to why the management of the enterprise should not be transferred to the Board.

Before making any order or injunction under subsection (3) or (4), the Judge may, if he thinks fit, examine the officer making the application.

At the same time as the Judge makes an interim order under subsection (3), the Judge shall issue to the enterprise a notice accompanied by copies of the order, the application and the evidence, if any, recorded by him, calling upon the enterprise to show cause on a date to be specified in the notice as to why the interim order of attachment should not be made absolute or the injunction confirmed.

If no cause is shown on or before the date specified in the notice under subsections (4) and (6), the Judge shall immediately make the interim order final and direct the sale of the attached property or transfer the management of the enterprise to the Board or confirm the injunction.

If cause is shown, the Judge shall proceed to investigate the claim of the Board and the provisions of the Rules of Court (Cap. 322, R 5) shall as far as practicable apply to such proceedings.

On an investigation made under subsection (8), the Judge shall make an order —

When making any order under subsection (9)(c), the Judge may make such further orders as he thinks necessary to protect the interests of the Board, and may apportion the costs of the proceedings in such manner as he thinks fit.

Unless the Board intimates to the Judge that it will not appeal against any order releasing any property from attachment, the order shall not be given effect to until the expiry of the period referred to in subsection (13) within which an appeal may be lodged, or if an appeal is lodged, unless the Court of Appeal otherwise directs, until the appeal is disposed of.

An order of attachment or sale of property under this section shall be carried into effect as far as may be practicable in the manner provided in the Rules of Court for the seizure and sale of property in execution of any judgment or order, as if the Board were the judgment creditor.

Any party aggrieved by an order made under subsection (9) or (10) may, within 30 days from the date of the order, appeal to the Court of Appeal, and, upon the appeal, that Court may after hearing the parties make such orders as it thinks proper.