Regulation 50
Individual loan account kept
of Town Councils Financial Rules
Subsidiary LegislationIn forceProvision 79 of 121
Regulation 50
A loan account has to be maintained for each loan given showing, for each month —
(a)
the amount of loan (principal) outstanding at the beginning of the month;
(b)
the interest due for the month;
(c)
the total amount recovered for the month; and
(d)
the amount of loan (principal) outstanding at the end of the month.