Section 10: Application of grants, etc

(1) Grants, finances or advances made pursuant to this Act shall not be applied for any purpose other than the purpose for which the grant, finance or advance was made.
(2) Any person who applies any grant, finance or advance made pursuant to this Act in contravention of subsection (1) of this section is guilty of an offence and liable on conviction to a fine of an amount not less than the amount of such grant, finance or advance in respect of which the offence was committed or to imprisonment for a term of 5 years.
(3) Where an offence under this section is committed by a body corporate and it is proved to have been committed with the consent, connivance of, or attributable to any neglect on the part of the director, manager, secretary or other similar officer of the body corporate or a person purporting to act in such capacity, he as well as the body corporate shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished as provided in subsection (2) of this section