[7. Vesting of property in Trustee and Debenture-holders charge on the assets. - Upon the issue of debentures under Section 6, the benefit under the State Government guarantee and the mortgaged properties and other assets referred to in sub-section (3) of the said section and held by the Board, shall vest in the Trustee and the holders of the debentures shall be entitled to the benefit of the guarantee of the State Government and shall also have a floating charge on all such mortgages and assets and amounts paid under such guarantee or mortgages and remaining in the hands of the [Uttar Pradesh Gram Vikas Bank ].]
Section 7: Vesting of property in Trustee and Debenture -holders charge on the assets
The U P Sahkari Gram Vikas Bank Act 1964State Act of Uttar Pradesh · Act 16 of 1964
Where this provision sits
| Act | The U P Sahkari Gram Vikas Bank Act 1964 |
|---|---|
| Section | 7 |
| Marginal note | Vesting of property in Trustee and Debenture -holders charge on the assets |
| Jurisdiction | State of Uttar Pradesh |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted, U.P. Act No. 27 of 1978. Subs. by U.P. Act No. 27 of 1978
- substituted, U.P. Act No. 19 of 1994. Subs. by U.P. Act No. 19 of 1994
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