Sue. 1] THE GAZETTE OF INJDIA EXTRAORDINARY 131 1 »f 1894.
28. (i) Every notification Issued before the commencement of this Act, whether by the Central Government or by a State Government, under section 4 of the Land Acquisition Act, 1894 (hereinafter referred to as the said Act), in which lands were stated to be needed for the prospecting of coal seams for the development of collieries to be worked by the Union of India shall be deemed to have been ijsued by the Central Government under section 4 of this Act as if this Act had been in force on the date of the notification.
Notification under Act I of 1894 in which proceedings are pending to be treated as notifications under this Act.
(2) Every notification issued before the commencement of this Act, whether by the Central Government or by a State Government, under section 6 of the said Act in which lands were stated to be needed for the development of coal shall be deemed to have been issued under section 9 of this Act as if this Act had been in force on the date of the notification.
(3) Any objection preferred under section 5A of the said Act in respect of any land covered by any notification issued under section 4 of the said Act shall be deemed to be an objection preferred under section 8 of this Act to the relevant competent authority and may be disposed of by him accordingly; and the Central Government may at any time make a declaration under section 9 of this Act in respect of the land or any part thereof.
(4) Subject to the other provisions contained in this section, the provisions of this Act (including provisions relating to compensation) shall apply in relation to any such notification as is referred to In sub-section (2) or sub-section (2) as they apply in relation to any notifltation issued under section 4 or section 9, as the case may be, of this Act.
THE STATE BANK OF INDIA (AMENDMENT) 1957 ~ " ' " No. 21 OF 1957 [8th June, 1957] An Act turther to amend the State Bank of India Act IQ55- BB it enacted by Parliament in the Eighth Year of the Republic of India as follows: —
1. This Act may be called the State Bank of India (Amendment) Act, 1957.
Short title.
232 M E GAZETtE OP INDIA KCTtuA-OUDlNARY [PAMX II Amendment of section
21.
2. In section 21 of the State Bank of India Act, 1955 (hereinafter referred to as the principal Act), after sub-section (2), the following sub-section shall be inserted, namely: — 23 of 1955 "(2A) The chairman ex officio shall be a member of every Local Board and Local Committee constituted under this section.".
Amendment of section 23- Amendment of f ection 33-
3. To section 23 of the principal Act, the following proviso shall be added, namely: — "Provided that nothing in clause (c) shall apply to the chairman in relation to his membership of a Local Board or of a Local Committee.".
4. In section 33 of the principal Act,—
(1) in clause (i),—
(a) after sub-clause (f), the following sub-clause shall be inserted, namely: — " (if) subject to such directions as may be issued by 1 the Central Board, book-debts or other assets of any undertaking engaged in the financing of hire-purchase transactions which are hypothecated to the State Bank as security for such advances, loans or credits;";
(b) in sub-clause (h), for the words, brackets and letters "sub-clauses (f) and (g)", the words, brackets and letters "sub-clauses (/), (ff) and (g)" shall be substituted;
(2) after clause (x), the following clause shall be inserted, namely: — "(a;o) the acting as agent for the Central Government or any State Government or any corporation in implementing any scheme for financing the construction of dwelling houses, and in advancing or lending of money from out of the funds placed at its disposal as such agent by the Government or corporation to any person upon such security (including the security of any immovable property) and on such terms and conditions and for such periods as may, notwithstanding anything contained in this Act, be approved by the Government or corporation by which such funds have been placed;";
SEC. 1] THE GAZETTE OF INDIA EXTRAORDINAKV 233
(3) after clause (xix), the following clauses shall be inserted, namely: — "(xixa) in consultation with the Reserve Bank and subject to the directions of the Central Board, the subscribing to, buying, acquiring, holding or selling of any shares or debentures of any such financial institution as may be notified by the Central Government in this behalf;
(xixb) the advancing or lending of money to persons engaged in such industries or classes of industries as may be specified by the Central Board by directions issued in this behalf, for any period in excess of six months but not exceeding seven years, and subject thereto and to such directions as may be issued by the Central Board, such advance or loan may be made on such terms and conditions and upon such' security (including the security of any immovable property) as the State Bank may deem fit;
(xixc) the advancing or lending of money to any cooperative housing society, all the members of which are officers or employees of the State Bank, and subject to such directions as may be issued by the Central Board, such advance or loan may be made for such periods in excess of six months, on such terms and conditions and upon such security (including the security of any immovable property) as the State Bank may deem fit;".
S. In sub-section (I) of section 42 of the principal Act, for the word "February", the word "March" shall be substituted.
Amendment of section
42.
K. V. K. SUNDARAM, Secy, to the Govt, of India.
PRINTED IN INDIA BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS, NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS, DELHI, 1957