Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979Himachal Pradesh1979
Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979
An Act to supplement the provisions of the Himachal Pradesh Co-operative Societies Act, 1968 (Act No. 3 of 1969) in order to facilitate the working of the co-operative agriculture and rural development banks in the State of Himachal Pradesh with a view to providing for the grant of long term loans to owners of land or other immovable property to carry out agricultural improvements, to acquire land for the formation of economic holdings and other like purposes to enable them to discharge their debts and thereby to promote thrift and self help among them
Act No. 23 of 1979
- Sections
- 62
- Chapters
- 8
- Classified offences
- 2
Contents
IPreliminary§ 1–22 sections
IVDebentures§ 9–14C11 sections
- 9Issue of debentures by the Board
- 10Redeemable period of debentures
- 11Maximum limit of debentures
- 11A[ Power to borrow money by issue of bonds or by way of loans. [Section 11-A added, vide Act No. 16 of 1987 w.e.f. 16-11-87.]
- 12[ Charge on movable or immovable property of the borrower for amounts borrowed. [Section 12 Substituted vide H.P. Act No, 16 of 1987 w.e.f, 16 11-87.]
- 12A[ Applicant for loan from the Agriculture and Rural Development Bank to furnish declaration. [Section 12-A, added vide H.P. Act No. 16 of 1987 w.e.f. 16-11-1987.]
- 13Guarantee by State Government of principal and interest on debentures issued under section 9
- 14Power of Board to make regulations
- 14A[ Security for loans. [14-A, 14-B, 14-C added H.P. Act No. 16 of 1987 w.e.f. 16-11-87.]
- 14BMoney borrowed for development of land
- 14CLoans to persons having restricted rights of transfer
VGrant of Loans-Mode thereof§ 15–228 sections
- 15Mode of dealing with applications for loan
- 16Order granting loan conclusive of certain matters
- 17The [Agriculture and Rural Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.] to have prior charge on land
- 18Section 18
- 19Section 8 of Act XXXII of 1956 to apply to mortgages to [Agriculture and Rural, Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.], subject to modifications
- 20Restriction on lease
- 21[ Power of the Agriculture and Rural Development Bank to receive money and grant valid discharge. [Sections 21 and 22 Substituted vide Act No. 16 of 1987 w.e.f. 16-11-1987.]
- 22Powers of the Agriculture and Rural Development Bank in case security property is destroyed or becomes insufficient
VIDistraint and Sale of Produce§ 23–253 sections
VIISale of Mortgaged Property§ 26–3712 sections
- 26[ Power of sale when to be exercised. [Section 26 Substituted vide H.P. Act No. 16 of 1987 w.e.f. 16-11-1987]
- 27Application for sale and manner of sale
- 28Application to set aside sale on deposit and confirmation of sale in default or on dismissal of such application
- 29Distribution of the proceeds of sale
- 30Certificate to purchaser
- 31Delivery of property to purchaser
- 32Right of [Agriculture and Rural Development Bank] [Substituted for 'Land Development Bank' vide Act No. 16 of 1987 16-11-1987.] to purchase the [xxx] [Word 'mortgaged' Omitted vide Act No. 16 of 1987 16-11-1987.] property at sale
- 33Appointment of receiver and his powers
- 34Title of purchaser not to be impeached on the ground of irregularity etc
- 35Appointment of sale officers
- 36Recovery of loans on certificate by Registrar
- 37Collector to make recoveries during a certain period
VIIIMiscellaneous§ 38–5620 sections
- 38[Gahen, mortgage or hypothecation] [Substituted 'mortgages' vide H.P. Act No. 16 of 1987.] executed in favour and other assets of [Primary Agriculture and Rural Development Banks] [Substituted for 'Primary Land Development Bank' vide H.P. Act No. 16 of 1987.] to stand transferred to State Bank
- 39Power of Board of trustee to direct distraint and sale of produce and the sale of [XXX] [Words 'mortgaged' omitted vide H.P. Act No. 16 of 1987.] property, etc
- 40[ Gehan or mortgage or hypothecation not to be questioned lo insolvency proceedings. [Section 40 Substituted vide H.P. Act No. 16 of 1987.]
- 41[ Priority of gehan, mortgage and hypothecation. [Section 41 substituted vide Act No. 16 of 1987 w.e.f. 16-11-1987.]
- 42Right of [Agriculture and Rural Development Bank] [Substituted for 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.] to pay prior debts of the mortgagor
- 43Power to summon witnesses and requisition documents
- 44Registration of documents executed on behalf of a [Agriculture and Rural Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f.16-11-87.]
- 45Special provisions for [gehan created or mortgage or hypothecation] [Substituted for the words 'mortgage' or 'mortgages' vide vide Act No. 16 of 1987 w.e.f.16-11-87.] executed by managers of joint Hindu family
- 46Proof of documents or entries in documents
- 47Service of notice under the Act
- 48Officers of the [Agriculture and Rural Development Banks] [Substituted for 'Land Development Bank' vide H.P. Act No. 16 of 1987 w.e.f. 16-11-1987.] and sale officers not to bid at sale
- 49Delegation of certain powers by Board
- 49A[ Employees etc. to be public servants. ['49-A' added vide H.P. Act No. 16 of 1987 w.e.f. 16-11-1987.]
- 50Powers of Board to make regulations
- 51[Primary Agriculture and Rural Development Banks] [Substituted for 'Primary Land Development Bank' vide H.P. Act No. 16 of 1987 w.e.f. 16-11-1978.]
- 52Provisions for guarantee fund to meet certain losses
- 53Remission of fees
- 54Registrar's power to permit any Co-operative Bank to function as a [Agriculture and Rural Development Bank] [Substituted for 'Land Development Bank' vide Act No, 16 of 1987 w.e.f. 16-11-1987.]
- 55Power of State Government to make rules
- 56Repeal