Punjab act 013 of 2014 : The Punjab Appropriation (No.2) Act, 2014.

(ASAR^9, 1936 SAKA)

PART I

GOVERNMENT OF PUNJAB

DEPARTMENT^OF LEGALAND LEGISLATIVE AFFAIRS, PUNJAB

NOTIFICATION

The 30th June, 2014 No, 13-Leg./2014.-The following Act of the Legislature of the State of Dniah received the assent of the president of India on the 20th Day of June, 2014, is hereby published for general information:

THE PUNJABAGRICULTURAL CREDIT OPERATIONSAND

MISCELLANEOUS PROVISIONS (BANKS)

(AMENDMENT)ACT, 2013

(Punjab Act No. 12 of 2014)

41

AN

ACT

further to amend the Punjab Agricultral Credit Operations and Miscellaneous Provisions (Banks) Act, 1978.

BE it enacted by the Legislature of the State of Punjab in the Sixty-fourth Short title and Year of the Republic of India as follows:

1. (1) This Act may be called the Punjab Agricultural Credit Operations and Miscellaneous Provisions (Banks) (Amendment) Act, 2013. Amendment in section 2 of the Punjab Act 5 of 1979.

(2) It shall come into force on and with effect from the date of its publication in the Official Gazette.

2. In the Punjab Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1978 (hereinafter referred to as the principal Act), in section 2, in clause (d),

() in sub-clause (vi), the word "and" appearing at the end, shall be omitted; and

(ii) in sub-clause (ix), for the sign "", appearing at the end, the sign and word "; and" shall be substituted and thereafter, the following sub-clause shall be added, namely:

"3) the Punjab State Co-operative Bank, the Central Co-operative Banks, Urban Co-operative Banks, Primary Co-operative Agriculture Development Banks, Primary Co-operative Societies granting financial assistance to its members, registered under the Punjab Co-operative Societies Act, 1961;".

commencement

Amendment in

section 2 of the

Punjab Act 5 of

1979,

PUNJAB GOVT. GAZ. (EXTRA), JUNE 30.2014

(ASAR 9, 1936 SAKA)

PARTI

GOVERNMENT OF PUNJAB

DEPARTM ENT OF LEGAL AND LEGISLATIVE AFFAIRS, PUNJAB

NOTIFICATION

The 30th June, 2014

41

—

No. 13-Leg./2014.-The fol ing Act of t e Legislature of the State of punjab received the assent of the president of India on t e 20th Day of June, 2014, is hereby published for general information: -

THE NJ BAGRICULTURAL REDIT OPERATIONS AND

I NEOUS PROVISIONS (BANKS)

(AMENDMENT) ACT, 2013

unjab ct No. f 014) further to amend the Punjab Agricultural Credit Operati ns iscel aneous

Provisions (Banks) Act, 78.

Bk it enacted th egislature t t nj i t -fourth hort title Year of the epublic f i l s:-

commencement

1. (1) c ed h b gri l u al r perati ns iscel eous r visi ns nks) (Amendment) Act, 2013. Amendment in of h nj ct 979.

(2) It shall m n o o i rom the date of its publi at n n h f icial azet e.

2. In the Punjab Agri ural C er ons n i aneous Amendm entin

P i s (B s) Act 1 78 (hereinafter referred to as the principal Act), in secti on 2 ofthe

Punjab Act 5 of

section 2, in c au ( -

1979,

(i) in sub-clause (viii), the w "and ap n at the en shall be

o it ; and

(ii) in su (ix), for the sign "3", appea ring at the end, the sign

and word "; and" shall be su u e and th e fter, the following

sub a s al be ad namely:-

") the Punjab State Co-oper t B th e C ral Co-operative

B U ban C er t Ba

nks, Primary Co-operative A D opm t Banks

, Primary Co-opeipive

So e granting financ a a sistan ce to its m bers, registered the Pun ab C r Societies Act, 1961:".

1

(ASAR 9, 1936 SAKA)

3. In the principal Act, after section 4, the following sections shall be inserted, namely:

42

"4-A. (1) Notwithstanding anything contained in the Registration Registration of Act, 1908 (Central Act 16 of 1908), a charge in charge in

respect of which a declaration has been made favour of bank under sub-section (1) of section 4 of this Act or in respect of which a variation has been made under sub-section (2) of section 4 of this Act, shall be deemed to have been duly registered in accordance with the provisions of that Act with effect from the date of such charge or variation, as the case may be, provided that the bank sends to the Sub-Registrar or Joint Sub-Registrar within the local limits of whose jurisdiction the whole or any part of the property charged is situated, within a period of sixty days, through a registered post acknowledgement due or in person, a copy of the document creating such charge or variation duly certified to be true copy by an employee of the bank authorized to sign on its behalf.

(2) The Sub-Registrar or the Joint Sub-Registrar, as the case may be, receiving the declaration referred to in sub-section (1),^as

immediately as practicable on receipt thereof, record in a register to be maintained in this behalf, the fact of the receipt of such

declaration or variation.

4-B. Wherever a charge is created on the

land in favour of a bank

Nothing of charge by an agriculturalist under section⁴ of the Act, the

created in favour

bank may give intimation in writing to the Tehsildar

of bank in the

record of rights or Naib-Tehsildar

within the local limits of whose

jurisdiction the whole or any part of the property charged is situated

or such other revenue official^as

may be designated in this behalf

by the State Government, of the

particulars of the charge in its

favour. The Tehsildar, Naib-Tehsildaror other revenue official shalI

make a note of the particulars of

charge in the record of rights

relating to the land over which^the

charge has been created.".

H.P.S. MAHAL,

S24/06-2014/Pb. Gov. Press, S.A.S. Nagar Secretary to Government of Punjab, Department of Legal and Legislative Affairs.

PUNJAB GO T. G (EX ), JUN 30 201 42

(ASAR 9, 1936 SA

— . .

3. Inthe p in l A t after sec ion 4, the fo low n sec ion shall be inse , ely:-

a; 3 Fasmigin. anything contained in the Registration Em ct, 1908 (Central Act 16 of 1908), a charge in frvour of bank respect of which a declaration has been m u su t (7 o se o 4 o th s A o in resp whic

a variation has been under sub-section (2) of section 4 of this Act, shall be deemed to have been duly registered in accordance wi h the p o tha A w h e from the d e o such

c v , a the c b th the b n

en to the b-Registrar o J S -Registrar wi the lo limits of whose jurisdiction the whole or any part of the property is s tu , i o x y s, hrou e

post l gement n , h ent

r rt o ru

an employee of the bank ri d o g s half.

(2) The b-Registrar or h t b-Registrar, h may be, receiving the clarati n o n -secti n ), immediately as practicable on receipt r of, n ister be aintai ed in i behalf, t eipt

decl on ari

2