(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 agriculprocess 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 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*i r e 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 .
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 ino^iuuhreSoc' sPe c t 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- a n y o t h e r ! a w ô r t i m e 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 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 egistr 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 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 conav 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.
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 t c c l a i ? t e r t h e 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 ^c t i o n 8 in fav ur Of a bank subjec t to the mod ification XXXII of t l i a t r e fe r e n ce to the court therein shall be cons-
1956. 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 . 1 of 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.
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 par ticula rs of the charg e/............................... crea ted under the declara tion in the Recor d-o f Righ t and to re tu rn to the Bank for its records.
Ma nag er/A gen t .................................................... Bank Place....................................................
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,