(1) Where a borrower fails to repay the Government when notified under section 48(1)(b), the Government shall proceed to recover against the borrower, including through legal proceedings, the amounts of money paid by the Government to the creditor under the loan guarantee.
(2) The interest on the amounts paid accrues at the current market rate in favour of the Government until the date of final payment by the borrower.
(3) A sum paid by the borrower to the Government must be paid into the Consolidated Fund.