Board, State Development Bank, District Development Bank, Loanee,
National Bank, Sinking Fund, Trustee
MADHYA PRADESH ACT
NO. 20 OF 2000
MADHYA PRADESH SAHAKARI KRISHI AUR GRAMIN VIKAS BANK ADHINIYAM, 1999
[Received the assent of the President on the 5th July, 2000; assent first published in the “Madhya Pradesh
Gazette (Extra-ordinary)” dated the 13th July, 2000]
An Act to facilitated a more efficient working of the Co-operative Agriculture and Rural
Development Bank in Madhya Pradesh and to enable them to play a greater development role
both in farming and non-farming sectors.
Be it enacted by the Madhya Pradesh Legislature in the Fifteen year of the Republic of India as
CHAPTER – I PRELIMINARYShort Title,
- (1) This Act may be called the Madhya Pradesh Sahakari Krishi aur Gramin Vikas Bank
It extends to the whole of the State Madhya Pradesh.
It shall come into force on such date as the State Government may, by notification, appoint.
- (1) In this Act, unless the context otherwise requires-
“Board” means the Board of Directors of the Madhya Pradesh State Co-operative Agriculture and
Rural Development Bank Limited ;
“State Development Bank” means the Madhya Pradesh State Co-operative Agriculture and Rural
Development Bank Limited, registered or deemed to be registered under the Madhya Pradesh
co-operative societies Act, 1960 (no. 17 of 1961) ;
“District Development Bank” means a District Co-operative Agriculture and Rural Development
Bank registered or deemed to be registered under the Madhya Pradesh
Co-operative societies Act, 1960 (no.17 of 1961) ;
“Loanee” means the person to whom loan is advanced by the State Development Bank or a
District Development Bank on security as provided in sub-section (1) of section 15 ;
“National Bank” means National Bank for Agriculture and Rural Development established under
section 3 of the National Bank for Agriculture and Rural Development Act, 1981 (no. 61 of 1981) ;
“Security” means the security as referred to in sub-section (1) of section 15 to secure the
repayment of loan ;
Conferral of Registrar’s powers
Power to raise Funds
Issue of Debentures.
“Sinking fund” means a fund established and maintained by the State Development Bank for
redemption of ordinary debentures ;
“Trustee” means that trustee referred to in section 7.
Words and expressions used in this act and not defined herein but defined in the Madhya
Pradesh Co-operative Societies Act, 1960 (no. 17 of 1961),
and the rules made thereunder, shall have the meaning assigned to them in that Act. The State Government may, by notification, for the whole or for any specified part of the State,
appoint any Officer sub-ordinate to the registrar to exercise all or any of the powers and to
perform all or any of the duties, conferred and impose on the Registrar by or under this Act
subject to such control as the State Government may direct.
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