6[(1)] With the previous sanction of the trustee and of the State Government, the State Bank may issue debentures of one or more denominations for such periods as it may deem expedient on the security of the 7[Gehan or mortgage or hypothecation held or or mortgages, charges or hypothecation partly held or partly to be acquired] and other assets transferred or deemed under the provisions of section 38 to have been transferred by the 8[Primary Agriculture and Rural Development Banks] to the State Bank or on the security of all or any other assets and properties of the State Bank and also against the 9[Gehan or mortgages or
1. Substituted for the words "The mortgages" vide H.P. Act No 16 of 1987, effective from 16th November, 1987.
2. Substituted for the words "Primary Land Development Bank" vide H.P. Act No.
16 of 1987, effective from 16th November, 1987.
3. Substituted for the word "mortgages" vide H.P. Act No. 16 of 1987, effective from 16th November, 1987.
4. Substituted for the word "mortgages" vide H.P. Act No 16 of 1987, effective from 16th November, 1987.
5. Substituted for the word "mortgages" vide H.P. Act No 16 of 1987, effective from 16th November, 1987.
6. Renumbered vide H.P. Act No. 16 of 1987, effective from 16th November, 1987.
7. Substituted for the word "mortgages" Act No. 16 of 1987, effective from 16th November, 1987.
8. Substituted for the words "Primary Land Development Banks" vide H.P. Act No.
16 of 1987, effective from 16th November, 1987.
9. Substituted for the word "mortgages" vide H.P. Act No 16 of 1987, effective from 16th November, 1987.
10 THE HIMACHAL PRADESH CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT BANKS ACT, 1979 hypothecation] which are to be acquired or have been deemed to be acquired by the State Bank.
1[(2) Notwithstanding anything contained in sub-section (1), in respect of loans guaranteed by the Government and guaranteed to any person or to any body of persons, whether incorporated or not and whether or not established by or under any law for the time being in force, if such a body is approved by the Government, the Board may, with the prior permission of the trustees, issue debentures, on the strength of such Government guarantee and without the security of Gehan or mortgages or hypothecation and other assets, of one or more denominations, for such periods as it may deem expedient and subject to such conditions as the Government may think fit to impose].