The Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979
State Act of Himachal Pradesh · Act 23 of 197955 provisions
The enactment
| Type | Act |
|---|---|
| Citation | Act 23 of 1979 |
| Year | 1979 |
| Jurisdiction | State of Himachal Pradesh |
| Ministry | Cooperation |
| Status | In force as published by the source |
| Provisions published | 55 |
| Subjects | financial, agriculture |
Full text, provision by provision
Every provision below opens in full, free and without an account.
- Section 1 Short title, extent and commencement
- Section 2 Definitions
- Section 3 Purposes for which loans may be issued
- Section 4 Institution of 1[Agriculture and Rural Development Bank]s
- Section 5 Appointment of trustee
- Section 6 Vesting of property in trustee
- Section 7 Debenture holders to have first charge on 3[Gehan, mortgages, hypothecations] etc
- Section 8 Powers and functions of the trustee
- Section 9 Issue of debentures by the Board
- Section 10 Redeemable period of debentures
- Section 11 Maximum limit of debentures
- Section 12 Charge on movable or immovable property of the borrower for amounts borrowed
- Section 13 Guarantee by State Government of principal and interest on debentures issued under section 9
- Section 14 Power of Board to make regulations
- Section 15 Mode of dealing with applications for loan
- Section 16 Order granting loan conclusive of certain matters
- Section 17 The 4[Agriculture and Rural Development Bank] to have prior charge on land
- Section 19 Section 8 of Act XXXII of 1956 to apply to 6[Gehan, mortgage or hypothecation] to 7[Agriculture and Rural Development Bank] subject subject to modifications
- Section 20 Restriction on lease
- Section 21 Power of the Agriculture and Rural Development Bank to receive money and grant valid discharge
- Section 22 Powers of the Agriculture and Rural Development Bank in case security property is destroyed or becomes insufficient
- Section 23 Distraint when to be made
- Section 24 Distraint how to be affected
- Section 25 Sale of property distrained
- Section 27 Application for sale and manner of sale
- Section 28 Application to set aside sale on deposit and confirmation of sale in default or on dismissal of such application
- Section 29 Distribution of the proceeds of sale
- Section 30 Certificate to purchaser
- Section 31 Delivery of property to purchaser
- Section 32 Right of 6[Agriculture and Rural Development Bank] to purchase the 7[xxx] property at sale
- Section 33 Appointment of receiver and his powers
- Section 34 Title of purchaser not to be impeached on the ground of irregularity etc
- Section 35 Appointment of sale officers
- Section 36 Recovery of loans on certificate by Registrar
- Section 37 Collector to make recoveries during a certain period
- Section 38 Gehan, mortgages or hypothecation] executed in favour and other assets of 3[the Primary Agriculture and Rural Development Banks] to stand transferred to State Bank
- Section 39 Power of Board of trustee to direct distraint and sale of produce and the sale of 9[ X X X ] property, etc
- Section 40 Gehan or mortgage or hypothecation not to be questioned in in insolvency proceedings
- Section 41 Priority of Gehan, mortgage and hypothecation
- Section 42 Right of 6[Agriculture and Rural Development Bank] to pay prior debts of the mortgagor
- Section 43 Power to summon witnesses and requisition documents
- Section 44 Registration of documents executed on behalf of a 1[Agriculture and Rural Development Bank
- Section 45 Special provisions for 3[Gehan created or mortgage or hypothecation] executed by managers of joint Hindu family
- Section 46 Proof of documents or entries in documents
- Section 47 Service of notice under the Act
- Section 48 Officers of the 7[Agriculture and Rural Development Banks] and sale officers not to bid at sale
- Section 49 Delegation of certain powers by Board
- Section 50 Powers of Board to make regulations
- Section 51 Primary Agriculture and Rural Development Bank]s
- Section 52 Provisions for guarantee fund to meet certain losses
- Section 53 Remission of fees
- Section 54 Registrar's power to permit any Co-operative Bank to function as a 3[Agriculture and Rural Development Bank
- Section 55 Power of State Government to make rules
- Section 56 Repeal
- Section 57 Savings
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