9. Section 22 of the principal Act is amended —
by inserting, immediately after subsection (2), the following subsections:
“(2A) The Minister may, when extending the period under subsection (2), impose such conditions as he thinks fit, including a condition that the mortgagee shall provide such security as may be determined by the Minister for the purposes of complying with any condition imposed by the Minister.
(2B) If a mortgagee fails to comply with any of the conditions imposed by the Minister under this section, the Controller may forfeit (in part or whole) the security provided by the mortgagee under this section, after giving 21 days’ notice in writing to the mortgagee of his intention to forfeit the security and the grounds thereof.
(2C) A mortgagee may, upon receipt of the notice under subsection (2B), appeal to the Minister within 3 months from the date of that notice.
(2D) The Minister may determine an appeal under subsection (2C) by confirming or varying the Controller’s decision to forfeit the security, or by ordering the refund (in part or whole) of any security forfeited under subsection (2B); and the decision of the Minister on any such appeal shall be final and shall not be called in question in any court.”; and
by inserting, immediately after the words “Subsections (2)” in subsection (4), the words “, (2A), (2B), (2C), (2D)”.