Section 19A. Priorities of liabilities of the Committees

[The revenues of a Committee, shall, after meeting its operating, maintenance and management expenses, be applied as far as they are available in the following order, namely :—

(i) the repayment of principal amount of, and interest on, loans not guaranteed by the State Government ;

(ii) the repayment of principal amount of, and interest on, loans guaranteed by the State Government ;

(iii) the repayment of principal amount of, and interest on, sums paid by the State Government under guarantees, if any, by that Government ;

(iv) the repayment of principal amount of, and interest on loans taken from the State Government ;

(v) the balance remaining to be utilized for the education of fees payable to the Committee under this Act or for expenses incurred in the discharge of any of the functions of the Committee, as the Committee may think fit or the Board may direct.]¹