Regi itcre 1 No. A— 12 wflsr
The Assam Ga ze tte stfliefreq
EXTRAORDINARY
PUBLISHED BY AU fH OB IT Y -- ---------------- — - "
wt 61, 2
<• 61, Dtapav, Ma nda y, 2nd M ay , 1977, 12th Va iaa kh a,
------ --------
1899 (3 E.)
GOVERNMENT OF ASSAM
ORD ERS BY THE GOVERNOR
LEGISLATIVE DEPARTMENT
NOTIFICATION
The 2nd May 1977
No.LJL.143/75/70.—The following Act of the Assam Legislative ' Assembly which- received the assent of the President is hereby published for general
iafoTmatioh.
1
300 THE AS SA M GAZETTE, EXT RAORDIN ARY, MAY 2, 1977 -
ASSAM ACT VII OF 1977 . C
(R eceiv ed th e as se nt o f th e Pre side nt of Ind ia on 2nd May
1977)
TH E ASSAM AG RICU LT UR AL CR ED IT OPERATION S AN D
MISCELLANEOU S PROVISION S (BANKS)
ACT , 1977
An Act
to make prov ision s to faci lita te ade qua te flow of cred it for agri- cul tural prod uc tio n and deve lopment through banks and other ins titu- tional credit agencies and for ma tte rs connected the rew ith an d,
or, incidental thereto .
Be it enacted in the Twenty-ei ghth year of the Rep ubl ic of Ind ia as follows :—
CH AP TE R I
Pre liminary
Short tit le, extent
a« d comm e- Bcemcnt.
1. (1) This Act may be called the Assam Agr icul- tural Credi t Opera tions and Miscellaneous Prov i- sions (Banks) Act, 1977.
(2) It shall extend to the whole of the State of Assam.
(3) It shall come into force from such date as the State Government may , by not ificatio n in the Official Gazett e, app oin t in this behalf and diff eren t dates may be app oin ted for different provis ions of 'he Act and for different por tions of the State.
2. In this Act, unless the context otherwise requires,.—
(a) " Agr icultur e" and " agr icu ltural purpose" shall include mak ing lan d fit for cul tiva tion , cu tiva tion of lan d, imp roveme nt of land, land includin g deve- lopm ent of sources of irr iga tion, rais ing and ha r- vesting of crops, hor ticulture , fore stry , planting and farm ing and cat tle b reed ing, anim al hu sbandly , dairy farm ing, seed fa' rning, pisc icul ture , apicu l- ture, ser icu l'ur e, pig , ery, pou ltry farm ing and such o'he r activities as are genera lly carried
2
TH E ASSA M GAZ ETTE, EXTRA OR DI NA RY , MAY i , A , on by agr icultur ists , dairy farm ers, cat tle breeders, poult ry farm ers and othe r cate gories of persons engaged in similar activitie s inclu ding marke ting of agricultura l produc ts, their s ota ge and transp ort and the acqu isition of implem n s and machinery in connection with any such activ i y ;
(b) " Ag riculturi st" means a perso n who is enga- ged in Agriculture ;
(c) " Ag ro- Ind ustrie s Co rporat ion" mear.s a com pan y or oth er body corpo rate one of th e prin cipal objectives of which is to undertake activitie s connec- ted with or intend ed for t he developmen t of agr icul- tur e and not less than fifty-one percen t of the paid-up sha re cap ita l of which is held by the C en tra l Govern- ment or by any Sta te Goveinmen or pa rt y by the Ce ntr al Go ver nm ent and partly by one or mo re Sta te Governments ;
(d) "Ba nk " means —
(i) a banking com pany as defined in the Banking Regulat ion Ac t, 1919:
(ii) the Sta te Ban k of In di a cons tituted under the State Bank of I nd ia Ac t, 1955 ;
(iii) a subs idiary ban k as defined in the State Bank of India (Subsidiary Banks) Act, 1959 ;
(iv) a corresp onding new ba nk constitu ted under the Banking Companies (Acquisi tion and Trans fer of Undertakings) Act, 1970 ;
(v) a Regiona l Ru ral Bank establish ed unde r the Regional Ru ra l Banks Act, 1976 ;
(vi) any banking ins titu tion no' ified by the Central Government under Sect ion 51 of the Banking Reg ula tion Act , 1949 ;
(vii) Agricu ltural Refinance and Development Corpo rat ion con stituted under the Agr icultur al Refinance and Developmen t Corpo rati on Act, 1963 ;
30 i
(viii) the Agro-In dus tries Co rpo rat ion as de- fined in sub-sect ion (c);
(ix) the Agricultura l Finance Corpo rati on Ltd., a com pan y incorp ora ted und er the Com panies Act , 1956 ; and
3
302 THE ASSAM GAZETTE, EXTRAORDINARY, MAY 2, 1977
(x) othe r finan cial ins titu tion ! notified by the Sta te Governm ent in the Official Gazette as a bank for th e purpose of this Act.
(e) "Co-o perativ e Society" means a Co- ope rat ive Society registe red or deemed to be regis tered unde r the Assam Co- operativ e Societies Act , 1949 (Act I of 1950) the object of which ii to prov ide financial assistance as defined in clause
(f) of this sect ion to its mem bers and in - cludes a Co-operativ e La nd Mortgage/ Develop men t Bank; and
(f) "finan cia l assis tance" for the purp ose of this Act means assistance granted by way of loans, advance , gua ran tee or otherwise for agr icu ltur al purp oses .
CH APTER II
Righ ts of Agr iculturist ! to alienate land / interest in lan d in favo ur of Banks. Re mo va l of
re it ri cl io ai
on alimi-
ati on .
3. Notwi ths tan ding any thin g con tained in any law for the time being in force or any custom or tradit ion , it shall be lawfu l for an ag- ricu ltur ist whose rights of alienation of lan d or of any intere st therein are rest ricte d to alie nate the land or his intere st the rein , inclu ding by creation of a charge or mortga ge on such lan d or inte rest in favour of a bank for the purpose of obtaining financial assistance from th at bank sub ject to res- trict ions imposed on disposal of such lan d in section 4.
State Gover - 4. Notwithstand ing anyth ing c ontained in any law nm en t m* y fo r the time being in force, the Sta te Gov ernment may, tiorTreit agri-by notif icati on in the Official Gazet te veit any class o r eu ltnr is tj n ot classes of agriculturi sts no t having rights of aliena- h*vin j »li»n-tion in land or any interest therein , with righ ts of able right! alienation includ ing the righ t to crea te a charg« or rights. SUCh mort
8a
gc
' onsuc
^ land or inte rest in fav our of ban k for the purpo se of obta ining financial assis - tance fro m that bank subject to such rest rict ions as may be specified in the not ificatio n. Cha rg e o»
cr sp an d
ot he r m«v-
ab le pr o-
pe rty in
fav our of a
bank-
5. (1) It shal l be lawfu l for an agriculturi st to create a charge on the movable prop ert y owned by him or on the cro ps rais ed by him, standing or otherwise or other produc e from lan d cult ivated by him , to the extent of his intere st therein in favour of a ban k to secure finan cial assistance from
4
THE ASSAM GAZETTE, EXTRAORDINARY, MAY 2, 1977
the ban k notwithstand ing that he may no t be owner of the land on and from which the c rop is raised .
303
(2) Notwi thst and ing any thin g to the con trary in the Assam Co-operativ e Societies Act , 1949 (Act 1 of 1950) or any oth er law for the time being in force , no charge in respect of financial assistance extended by a Co-ope rative Society to an agri cul turi st sha ll have pr ior ity over a charge on the cro ps rai sed by him, standing or otherwise, or any othe r movable prop ert y in respect of any financial assistance given to him by a ban k, pr od de d the financia l assis tance made by the bank is prio r in po int of time t o that of the financial assistance extended by the Co operativ e Society ;
(3) A bank may dis tra in and sell through an officer designated in this behalf by the Sta te Go vern- ment the crop or other produce or other movable prop er ty charged to that bank to the extent of the agriculturist's inte rest therein and ap prop ria te the proceeds of such sale tow ards all moneys due to the ban k from that agriculturi st.
*
C re at io n of 6. (1) Where an agriculturi st create a charge on fa iu t^ in fav-ân<
^'or an
7ot
her immovable pro perty which he ou r of a ba nk Owns or
in which he has an inte rest in respect of by de clar a- any financial assis tance given to him by a ban k, he tio n. m a y make a declara tion on the lines of the form set ou t in the Schedule here to or as nea r thereto as circu mstances* permi t, declarin g th at he thereby crea tes, in fav our of the bank , charge on such land or his interest ther ein, or othe r imm ovab le pro perty as the case may be, to secure the finan cial assis- tance given to him by the ban k ;
(2) A dec laration mad e un de r sub-sect ion (1) may be vari ed fro m time to time by the agricul- tu ris t with the consent of the bank in whose favour the declara tion has been made . Such var iation sha ll tak e effect from such date on which the var iat ion , if it has been an orig ina l dec lara tion , wou ld have effect under section 9.
CHA PTER III
Charges and Mortgages in fav our of banks an d th ei r prio ritie s.
Re mo va l of7
- Notwi ths tanding any thin g to the con tra ry di sa bi lit y in con tain ed in the Assam Co-operativ e Societies Act, cre at ion of 1949 (A ct 1 of 1950) or any othe r law for the time charg es an d bein g in force and notwithstand ing th at any land mortgager. o r in t e r e s t the rein stan ds alread y charged or mo r- tgag ed to a Co-ope rative Society it shall be lawful
5
Aiiuxiiy ui <
charge* and • mortgages in ai favour of
Government bank and a Co-operative Society.
304 TH E AS SA M GAZE TT E, ' EX TR AO RD IN AR Y, MA Y 2, 1»??
fo r an agriculturist to create a charge or mortgage x, on such land or inte rest th erein in favo ur of a bank as secu rity for any financial assistance given to the agriculturi sts by the bank .
8. (1) No twith sta nd ing any thin g to the c on tra ry ny law for the time being in for ce ,—
(a) no charge or mortgage cre ate d on auy land or inte rest therein , afte r the comm - encement of this Act , in favour of the Government or a Co-o pera tive Society, shall hav e priori ty ove r a cha rge or mortga ge on such land or intere st cre a- ted by an agriculturi st in favour of a bank as securi ty for financial assis tance given to the agriculturist by the bank af te r th e comm encement of this Act and pr io r to the c harg e or m ortgage in favo ur of the Government or the Co- operative Society ; and
(b) any charge or mortgage created on any land or interest therein in favour of a bank in respect of finan cial assis tance given to an a gricul tur ist by that ban k shall have pr io rit y over any oth er charge or mo rt- gage th at may have been created over such lan d or interest in fav our of any perso n oth er tha n the Gov ernm en t, a co-operative society or any oth er ban k, pr ior to the da te on which the charge or mortgage was created in favour of the bank.
(2) Where diffe rent charges or mortgages over the same land or interest there in have been created by an agri cul turi st in fav our of the Gover n- ment, a co-opera tive society or a bank or more tha n one bank any such c harge or mortgage cre ate d as secur ity for financia l assis tance given by the Government , Co-opera tive S o c i e t y or the bank or ban ks by way of term
laan for deve lopm ent purp oses shall have priori ty over other charges or mortgages or mor t- gage cr eated in favou r of the Governm ent, co-opera tive society or any of the banks, pro vid ed pr io r notice of any such financia l assistance by wa y of term loan for development purposes had been given to such Government , co-opera tive society or ban k and such Goverment , co-o pera tive society or ba nk has conc urred in such financial assistance, and where more than one such cha rge or mortgage is as securi ty for finan cial assistance given by way of
e>
6
THE ASSAM GAZETTE, EX TR AO RD INAR Y, MA Y 2, 1977 305
term loan , the charges or mortgages by way of security for term loan for development purp oses will rank for priori ty in accordance with the da te of the ir creatio n.
Exp la na tion :—For the purposes of thi s section,
" te rm loa n for develop men t pu rp os e" sha ll mean finan cial assistance which would general ly lead to improve men t on agr icu lture and or bui ldin g up of assets in agr icu ltur e but shall not include financial assistance for mee ting working cap ita l expenses, seasonal agr icu ltur al opera tion and marke ting of crops.
(3) Nothing in this sec .ion shall app ly to borrowings only from one or more co-o perativ e societies incl udin g land mortga ge bank . Re gis tra tio n 9. (1) Notwi thst and ing a nything con tained in the
• f charg e India n Reg istr atio n Act, 1908, a charge in respec t o f a« d mor t- w h ic h a decla rat ion has been made under sub-section fa vo ur 1o f 0 ) section 6 or in respect of which a variation Banks. has been mad e under sub-section (2) of tha t section or a mortgage executed by an agr icu lturis t in favour of a b ank i n respect of financial assis tance given by that b ank , sha ll be deemed to have been duly regis- tered in accordance with the provisions of that Act with effect from the da te of such charge, varia tion
• r mortgage as the case may be, pro vided th at the ba nk sends to the Sub-Registra r with in the local limits of whose ju ris dic tio n the whole or any pa rt of the pro perty charged or mortga ged is situated with in the time stip ula ted by the State Governme nt for this pur pose by registered post acknowledge- ment due , a copy of the doc ument creatin g such charge, va ria tion or mor tgag e duly cer tified to be a true copy by an employee of the bank au th o- rised to sign on its beh al f;
(2) The Sub -Re gist rar rece iving the d eclara tion in respect of a cha rge or var iat ion or a mortgage ref err ed to in sub-section (1) shall, as imm edia tely
as practicab le on rec eip t ther eof , reco rd, in a reg ister to be ma intain ed in this be ha lf the fact of the rece ipt of such dec lara tion , va ria tion or mortgage for regi stra tion .
Notiaf of 10- Whenever a charge or a m ortgag e on loan ch arge or or intere st the reia is created in favour of a bank mo rtg age ^ y an agri cul tur ist the bank may give int ima tion fav our of™ ato
Sub-Deputy Collector or such oth er revenue bank in the o ff ic ia l as may be designated in this be ha lf by Rec or d of the State Gover nm ent , of the partic ula rs of the Rights. charge or mortgage in its favour . Th e Sub-Deputy
7
306 TH E AS SA M GA ZE TT E, EX TR AO RD IN AR Y, MAY 2, 1977
Res tr ic tio ns
on cre ation
of tenancy
by an ag ri •
cu ltu ris t
bo rrow er .
Re mo va l
ba r to
Col lector or the oth er revenue offic ial shall make a no te of the pa rti cu lar s of cha rge or mortgage in the Rec ord of Righ ts relatin g to the land over which the charge or mortgage is created.
11. (1) Notwi ths tan ding any thin g con tained in any law for the time bein g in force, an agr icul- turi st who has avail ed him sel f of financial assis tance from a bank by creating a charge or mortgage on land or in ter es t the rein , shall not, so lon g as the financia l assistance continues to be ou tstandin g, lease or crea te ten anc y rights on such land or interest there in witho ut pr io r p ermission in writ ing of the bank if he has not alread y leased or created tena ncy rights thereon at the time of ava iling if the finan- cial assistance from the bank .
(2) Any lease gra nte d or tenanc y rights created in contr avention of this section shall be void.
CH APTER IV
A rra n g em en t fo r R ecovery o f d u es b y B an k s
12. No thing in any law shal l p revent in any ma nner at ta ch m en t&ban k from causing any land or any inte rest andCs5eenbv 'herein charged or mortgaged to it by an agricul- process o f ' turi st to secure any financia l assistance, to be co ur t. at tach ed and sold through a civil cou rt and app- lying the proceeds of such sale tow ards all moneys due to it from agriculturi st including the costs and expenses as may be award ed by the cour t; provided th at such attach ed land should be sold only to the Gover nm ent or any Agricu ltural Fa r- ming Co rporati on or dese rving landless cul tiva tors to be so classified by the loca l Revenue au thor i- ties an d such land in specified triba l blocks shall be transf erred only to per son s eligible to acquire or possess lan d unde r Ch apter X of the Assam Land and Revenue Regulatio n, 1886.
Re cover o f (1) An officer notified by the State dues oZa* G overn ment as the prescr ibed au tho rity for the ba nk th ro u g h p u rp o se of this section may, on the app lica tion a Prescr ibed of a ba nk make an o rder on any agriculturi st of his au thor ity . h e ir or legal repr esentative direc ting the pay ment of any sum due to the bank on accoun t of fina n- cial assistance avail ed of by the agriculturi st, by the sale of any land or any interses t therein
upon which the paymen t of such money is c harged or mortga ged provide d that no ord er shall be
mad e by the p resc ribed autho rity under this section for the sale of any land or any inte rest therein or any oth er immovable pro perty upon which the
8
THE ASSAM GAZETTE, EXTRAORDINARY, MAY. 2, 1977 367
*
pay ment of money cha rged or mortga ged unless the agri cul tur ist or the he ir or legal rep resentativ e or the agr icu ltur ist, as the case may be, has been served with a notice by the pre scr ibe d authority calling upon him to pay the money due;
(2) Every ord er passed by the pre scr ibed autho rity in term s of sub-sect ion (1) shall be deemed to be a decree of a civil court and shall be executed in the same ma nner as a decree of such co ur t;
(3) No thing in this section shall de ba r a bank from seeking to enforce its righ ts in any other ma nner ope n to it und er any oth er law for the time being in force.
R ig ht of a 14. (1) Notwi ths tan ding any thin g con tained in ba nk to ac - any law for the time being in force , a bank shall di*ire
n t have power to itsel f acquire agric ult ura l land or im moX ble intere st therein or any oth er immo vable pro per ty Prop er ty . which has been charged or mo rga atd to it by . an agr icu ltur ist in respect of any financial assistance availed of by him, pro vided the said land or interest the rein or any oth er imm ovab le pro perty has been sought to be sold by pub lic auct ion and no per son has offered to purchase it for a pric e which is sufficient to pay to the bank the money due to it;
(2) A ban k which acq uires land or interest the rein or any other immovable pro per ty in exer- cise of the power vested in it unde r sub-sect ion (1) sha ll dispose of it by sale in the ma nner provided in section 12 with in a per iod to be specified by the Sta te Governme nt in this beh al f;
(3) If the ban k has to lease out any land acquired by it under sub-sect ion (1), pen ding sale the reo f as indicate d in sub-section (2), the per iod of lease shal l no t exceed one yea r at a time an d the lessee shal l not acqu ire any inte rest in th at p rop erty notwithstand ing any provisions to the co nt rary in any other law for the time being in force ;
(4) A sale by a bank of land or interest there"
in in term s of this section shall be subject to Section 4 and any prov ision s of any law in force which may place rest rictions on purchase of lan d by non-agricul tur ists or ceiling for acqu isition of land or by a person no t belonging to a partic ula r tribe or scheduled caste or frag menta tion of land .
9
308 TH E AS SA M GA ZE TT E, EX TR AO RD INAR Y, MAY 2, 197 7
Exe m pt 'on 15. Nothing in any law for the time being in to banks fo rc e placing a ceiling or limit on the hold ing of c t^ s^ o n sha'l apply to a ban k acquiring land in term s acqu isi tio n of section 14 and holding such land till such time of la n d in the ba nk is in a pos ition to sell the lan d in th e excess of manner provide d in section 14 or othe rwise, at a ceil ing.
pric e which is ade quate to cove r its dues.
CHAPTER V
FINA NC IN G OF CO -O PE RA TIVE SOCIETIES
BY BANK S
ble'^o^be- Notwithstanding any thin g contained in the come mem-Assam Co-operativ e Societies Act, 1949 (Act lo f ' be r of a C o- 1950) or any law for the time being in force , it op erat ive shall be lawful for a bank to become a member o c ie ty
- o f a Co- ope rative Society. Power to Co- 17. No twithstanding anything con tained in the opeative Soc ie.Assa m Co-operativ e Societies Act, 1949 (Act 1 of ties to bo rrow jg gQ ) j t s ]fa u ^e lawful for any Co-o pera tive rom an s. §o c je ty t o bo r r o w from a bank . Insp ec tio n of i s , ( i ) a Bank shall have the right to in-
o^iuuhreSoc'sPect
the books of any co-opera tive society which ie ty by aVan k* bas eit he r applied to the bank for financial assi- stance or is ind ebt ed to the bank on account of financial assistance gra nte d earl ier;
(2) The inspectio n may be carried out by an Officer or any othe r member of the paid staff of the ban k with the previous sanction in writ ing of the Regis trar of Co-operativ e Societies;
(3) Th e officer or any oth er mem ber of the paid staf f of the bank, undertakin g such ins- pect ion, sha ll, at all reasonable time s, have access to the books of accounts, documents, securit ies, cash and oth er proper ties belonging to or in the custody of the co-opera tive society insp ected by him, and shal l also be suppli ed by such socie ty such info rmatio n, stateme nts and return s as may be req uir ed by him to assess the financial con di- tion of the society and the safety of financial assistance to be made to the society or alre ady made to it.
Disputes b et- 19. Q) No twithstanding anything contained in a Ce-any other !aw ôr time
being in force, any op erat ive So- dispu'e touchin g the constitu tion , managemen t or c :ety . the business of a co-opera tive socie ty, between a ban k financing a co-operative society and the
10
THE ASSAM GAZETTE, EXTRAORDINARY, MAY 2, 1977 309
coopera tive society so financed , oth er than disputes reg ard ing the disc iplinary action taken by society or its comm ittee aga inst a paid employee of the socie ty, shall be referr ed by either of the parti es to the disp ute to the Re gis tra r of Co-opera tive Soci- eties for decision;
(2) Where any question arises whe ther , for purposes of the forego ing sub-section, a ma tte r ref erred to fo r decision is a dispute or no t, the que stio n sha ll be decided by the Regis tra r of Co-op era tive Societies whose decision shall be final. Se ttle me nt 20. (1) If the Regis trar is satisfied th at any of dispute s, ma tte r referr ed to him or bro ugh t to his notice is a disp ute with in the meaning of Section 19, the Regis trar shall decide the dispute hirr.self or refe r it for disposal to a nominee or a Board of nominees appointed by him;
(2) Where any disp ute is referred unde r the foregoing sub-section for decision to the Regis- tr a r's nominee or Board of nominees, the R egist rar may . at any time, for reasons to be rec orded in writing, with draw such disp ute from his nominee or Board of nominees and may decid e the dispute him sel f or refer it again for dec ision to any oth er nominee or Boa rd of nominees ap po in ted by him;
(3) No twithsta nding anything con tained in Sec- tion 19, the Reg istr ar may , if he thinks fit, suspend proceedings in regard to any disp ute if the ques- tion at issue between a co-opera tive society and a ban k is one involving complicated que stio n of law and fact, unt il the question has been trie d by a regu lar suit ins titute d by one of the part ies to the dispu te. If any ' such suit is not ins titu ted wi thin two mo nth s from the B egis- tr a r's ord er suspend ing proc eed ings , the Regis trar sha ll take action as is provided in sub-sect ion (1). Procedure 21. The Regis trar or his nominee or Board for hea ring of nom inees hearing a disp ute under the last of disputes. p r e c e d i n g Sect ion shall hea r the dispute in the ma nner th at m ay be prescr ibed by the Regis trar in this behalf .
Decision of 22. Wh en the dispute is refe rred fo r decis ion, Reg istrar or the Regis trar or his nominee or the Board of his nomin?e nom inees may, aft er giving a reasonable opportu - or Board of nity to the part ies to the dispute to be hea rd nominees. m a j,s a n award on the dispute, on the expenses incurred by the par ties to the dispu te in connec tion with the proceedings and fees, expenses payable to the
11
310 TH E AS SA M GA ZE TT E, EX TR AO RD INAR Y, MAY 2, 1977 -r Re gistr ar or his nominee or, as the case may be, to the Board of nominees. Such an award
shall not be invalid mere ly on the gro un d that it was mad e af ter the expiry of the per iod fixed for deciding the disp ute by the Regis trar and shall subject to app eal or review or revi sion by the Sta te Government be bind ing on the par ties to the disp ute .
Re cov ery o f
mo ney aw ar -
de d.
23. Every award given by the Regis trar or the Regis tra r's nominee or the Board of nom i- nees unde r Section 22, sha ll, if not car ried out, on a certi fica te signed by the Regis trar , be deemed to be a decree of a civil court and sha ll be executed in the same man ne r as a decree of such cou rt.
Powers o f a 24. (1) If a Co-op era tive Society is unable to bank to pr o- pay its debts to a bank from which it has ceed against bor rowed, by reason of its members defaultin g mem bers8o fa ^ n
pay ment of the mon ey due by th em, the bank Go-ope rative may direct the comm ittee of such society to proceed Socie ty. against such members by tak ing act ion under the Assam Co-ope rative Societies Act, 1949 (Act 1 of 1950)
(2) If the commit t e of the Co-o pera tive Society fails to proc eed again st its defaultin g members within a p eriod of nin ety days from the date of receipt of such dire ctio n from the bank , the bank; itse lf may pro cee d aga ins t such defa ultin g members in which event, the provis ions of the Assam Co- ope rat ive Societies Act , 1949 (Act I of 1950), the rules and the bye-laws made there un der sha ll app ly as if all refe renc es to the society or its comm ittee in the said provisions, rules and bye- laws were refe rences to the bank;
(3) Wh ere a bank has obtain ed a decree or award aga inst a Co-o pera tive Society ind ebt ed to it, the bank may proceed to recover such money firs tly from the assets of the Co-op era tive Society and secondly fro m the m embers of the Co-operativ e Society to the exte nt of the ir debts due to the society.
Au dit inspec- 25. Th e Regis trar of Co-opera tive Societies, tion and sha ll dra w the att ention of the bank financ ing a
"o r? of sod - Co-operativ e Socie ty to the defects noti fied in every et ic s° to 5°b e audit or inquiry or insp ection of such socie ty con- av ail ab le to duc ted as pe r provisions of the C o-operativ e Societies ba nk . Act, and sha ll also supply a copy each of such au di t, inquiry or inspection rep ort if dem and ed in writ ing, by the bank.
12
TH E AS SA M GA ZE TT E, EX TR AO RD IN AR Y MAY 2, 1977 311
CHAPTER VI
M i sc el la n eon s Exemption 26. No thing in any law for the time being in from leg- fo r c e dea ling with money-lending or agr icu ltur ists ' tim^to m - d ^ t relie f shah apply to financial assistance avail ed ney lending of by an agr icu lturist from a bank . and agricu-
lturists deb t
relief.
Mortgages 27. Notwi thst and ing any thin g con tained in any executed by ja w fo r the time being in force, mortgages execu- Jo hn H b id u tccl ai?ter the
commencement of this Act , by the families. manag er of a Jo int Hin du family in favour of a ban k for secur ing financial assis tance for an agr icu ltur al purpose shall be bind ing on every mem ber of such Joint Hindu family. Where a mortgage executed in favo ur of a ban k is called in ques tion on the gro und th at it was executed by the man ager of a Jo in t Hindu fami ly for a pur pose no t binding on the members (wh ether such mem bers have att ain ed maj orit y or not) the reo f th e bur den of proving the same shall lie on the party alleging it.
Modified 28. Section 8 of the Hindu Minority and appli ca tio n Guardianship. Act, 1956, shal l app ly to mortga ges °p ^ction8
in fav ur Of a bank subjec t to the mod ification XXXII oftliat re
feren
ce to the court therein shall be cons-
1 956. trued as reference to the Com missioner of Divi- sion or his nominee and any appeal aga inst the ord er of the Com missioner of Division or his nom i- nee shall lie to the State Government. Power of 29. The Sta+e Governme nt may make rules to Sta te Govern-pr o v ide for all ma tter s for which provision is make rules, nece ssary or expedient for the purpose of giving effect to the provis ions of thi s] Act and all such rules shal l be pub lished in the Official Gazette . Rep eal an d 30.(1) The Assam Agricultural Credit Op era - Assam Savings. tions and Miscellaneous Provisions (Banks) Ordi- Ord inance nance, 1977 is here by repealed .1of 1977.
(2) No twith sta nd ing such repeal , any or de r passed, notif icati on issued, any thin g done !or any act ion tak en under the Ordinance so repea led shall be deem ed to have been passed, issued , done or taken, as the case may be, und er the cor respon- din g prov isions of this Act.
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312 TH E ASSAM GA ZETTE, EX TR AO RD INAR Y, MAY 2, 197?
SCHEDULE
Declaration under section 6 (1)
I ............................................................. aged......................... .............. years residing a t ................................................... being desirous of availing myself of financial assistance from the............................... Bank make this declara - tion as requ ire d by sect ion 6(1) of the Assam Ag ric ult ura l Credit
Ope rations and Misce llaneous Prov isions (Banks) Act, 1977 tha t T,
..................... - ................................ own/have interest as a ten ant in the land specified below, and I hereby crea te a charge on the said land/inte res t
in land in favour of the bank for securing the financial assis tance
which the ban k may make and for all futu re assistance if any, which
the ban k may make to me toge ther with interest and costs and expenses
thereon .
schedule
Name of Name of Village Mouza/Parganah Name of District/ Sub-Division
Patta No. Dag No. Boundaries
(1) (2) (3) (4) (5)
(6)
Areas-Bigh as/ Acres
Assessment Rs. P.
Approximate value
Encumbrances if Remark, if any, Nature/amount any
(7) (8) (9) (10) (11)
c. No rth East
Sou th West
In witness whereof, I, Sh ri........................................................................ here und er set my han d this........................................ day o f ........................... in the year one thousa nd nine hun dred an d.............................................. Signed and delivered bj» the abov e nam ed in the presence of :—
Witnesses .
1.
2S' Signature of declarant Attested by,
Fo rward ed with compliments to the Sub-D epu ty Collecto r............... ....................................................................... with a requ est to include the
THE AS SA M GA ZE TTE, EXTRA ORD INARY7, M AY 2, 1977 313
Returned wi th compliments to the Ma nag er/Agent ......., ................... ■"........................... ........... Bank. The charge created under the dec laration duly included in the Record of Rights on th e................................................... day of .................................................... . ......... Sub-Depu ty Collector.
Forwarded with compl iments to ti e Sub-Regist rar with a request
to record the part icul ars of the cha rge ............................................................ created unde r the dec lara tion in hisj office.
Manag er/A gen t,
.....................................................Bank
Place......... . .........................................
Re turned with complimen ts to the Manager/Ag ent................................
. ......................................Bank. The charge crea ted under the declara tion is duly reco rded .
Sub-Reg istra rs
N.B.—The irrele vant wo ds/portions may be struck off and relevan t entries may te made where necessary.
u . TAF IBIL DAR ,
Secreta ry to the Govt of Atsam,
Legis lative Dep artm ent .
GAUHATI —P ri n te d an d pu blish ed by th e Sup dt . i/c , Ass am Gov t. Pr int ing Press, (Ex-G azettel No. 121—1,625 +2,3 50—2-5-1977,
15