(1) In exercise of the powr of sale confcrrod t:",'$Fd by section 13, the committee of o '[primary land manner of development bank] or any person duly authorized by sale.
yucll con~mittee, may apply to the sale officer appointed -- 1 Thb expression was substituted for the oxpreqion *' mort go b.nk *# by 4 of tho Tamil Nadu. Co-operattve Land &t.
gap Banks (Amendment) Agt, 1969 Uamd Nadu 4ct 14 of 1969).
25-1 4-28~ '. b in that bzhalf under section 22 to sell the mortgaged property or any part thereof and such officer shall, after giving notice in writing to all the persons referred to in section 13 sell such property in the manner prescribed.
(2) The salc shall be by public auction and shall be held in the village where the mortgaged property is situated or at the nearest place of public resort if the sale officer is of opinion that the property is likely to sell to better advantage there.
Applict@ion IS. ( I ) When a mortgaged property has been to set aside so!d under this Chapter, the mortgagor or any person sale on deposit and having a right or interest th%rein affected by the sal:, confirmation may, at any time within thirty days from the date of of sale i n default or on sale. apply to the committee of the I[primary land dismissal of devclop~iient bank] concerned to have the sale set S U O ~ appli- aside on his depositing at the office of such bankcation.
fa) for paymert to the '[primary land development bank], the amount specified in the proclamation of sale together with subsequent interest and the costs, if any, incurred by the bank in bringing the property to sale ; and
(b) for payment to thc porchaser, a sum equal to five per cent of the purchase money.
(2) If such deposit is made, the comnlittee shall make a*rder setting aside the sale,
(3) Where no application is made under subsection ( I ) or where'such application is made and disallowed, the committee shall apply to the principal officer of the co-operative departmept in the district, to make an order confirming the sale and on such officer confirming the sale,* it shall become absolute- 1934: T.N. Act X] Co-operatiye Land 437 Development Banks /