SECTION II: Advances
The advances from the national land development and town planning fund provided for in article L. 331-1 are granted by a management committee of four members comprising the representatives of the Prime Minister, the Minister of the Economy and Finance, the Minister of the Interior and the Minister responsible for town planning.
The Minister responsible for regional planning represents the Prime Minister.
The interest rate on the advances is included within the limits set by a joint order of the Minister of the Economy and Finance and the Minister responsible for town planning.
The period for repayment of advances may not exceed two years. It may however be extended for an equal period:
Twice with regard to advances granted for the creation of industrial zones;
Three times as regards the advances granted for the exercise of the right of pre-emption in the deferred development zones;
Once for other operations.
Extensions of deadlines are granted by decisions of the management committee provided for in the previous article.
In each case, an agreement is signed between the minister responsible for town planning and the beneficiary of the advance. The agreement sets the terms and conditions for the payment of funds.
The agreement provides that the repayment of the advances is immediately due if the transaction is not undertaken within the prescribed time.