Notwithstanding any agreement to the contrary, the Corporation may, by notice require any industrial concern, to which it has granted any loan or advance, forth- with to discharge in full its liabilities to the Corporation-

(a) if it appears to the Board that false or misleading information in any material particular was given in the application for the loan or advance; or

(b) if the industrial concern has failed to comply with the terms of its contract with the Corporation in the matter of the loan or advance ;or

(c) if there is a reasonable apprehension that the industrial concern is unable to pay its debts or that proceedings for liquidation may be commenced in respect thereof; or

(d) if the property pledged, mortgaged, hypothecated or assigned to the Corporation as security for the loan or advance is not insured and kept insured by the industrial concern to the satisfaction of the Corporation ; or depreciates in value, in the opinion of the Board, by more than twenty per cent, and further security to the satisfaction of the Board is not given; or

(e) if, without the permission of the Board, machinery or other equipment, whether forming part of the security or otherwise, is removed from the premises of the industrial concern without being replaced ;or

(f) if for any reason it is necessary in the opinion of the Board to protect the interests of the Corporation.