PUBLIC ENTERPRISES REGULATORY COMMISSION ACT

Section 61: Hearing, judgment and execution.

1996Section 61 of 79Federal Republic of Nigeria

(1) If the debtor or defendant-
(a) at the expiration of the period specified under section 60 (2) of this Act, fails to repay all the outstanding debt and interest; or
(b)
disputes the amount of debt or interest,
the Court shall proceed to hear the case and enter judgment and make such order as it deems appropriate for the purposes of this Part of this Act.
(2) Where the Court makes an order for the payment of the outstanding debt and interest and the debtor or defendant fails to comply within the time specified in the order, the Court shall make an order to levy execution on all the properties of the debtor or defendant, if any, pledged as security, collateral or bond for the debt.

Cite this section

Section 61, PUBLIC ENTERPRISES REGULATORY COMMISSION ACT (1996).

https://repo.podus.ai/laws/public-enterprises-regulatory-commission-act/section/61/