State Land Development Bank, Trustee, Mortgage Money, Mortgage Property,
further to amend the UttarPra lesh Co-operative Land Development Banks Act,
IT ISHBREBY enacted in the ~wenty-ninthYear of the Republic bdia
Short titlo, and
as follows :
- (1) This Act may be called the Uttar Pradesh C/o-operative
Development Banks (Second Amendment) Acty 1978.
(2) It shall be deemed to have come into force on October 5, 1978.
- In section 9 of the Uttar Pradesh Co-operative Land Development ~;
no. 16 of
Banks Act, 1961, hereinafter referred to as the principal Act after sub-
ssztion (2), the follosing sub-section shall be inserted, namely:-
“‘(2-A) The State Government may also contribute to the fund from
time to time-,s_uch.amountas it may deem fit.”
- In section 10 of the principal Act, after the words “mortgage executed”
he words “or charge created” shall be inserted and after the words “execution
of such mortgage” the words “or creation of such charge” shall be inserted.
- En section 11 of the principal Act,-
(a) for sub-section (I), the following sub-section shall be substituted,
Amendment 0 f
“(1) Notwittlstanding anything contained in any law for the
time being in force, it shall be lawful for a land development bank
or the State Land Development Bank to purchase any property sold
unier this Act and the property so purchased shall be disposed of
by such Bank by sale within such period as may be fixed by the
For Statement of Objects and Reasons, please see Uttar Pradesh Gazette, (Extraordinary),
dated Decsrnbar 12, 1978.
(P~ss:~in Hi n ii by the Uftar Pradesh Legislative Assembly on December 13, 1978
allby thj UXJPP.adesh’Leg~slativeCouncil on Docember 28, 1978).
[Rejsivei th~iass31:ofth: P-eli3e1t Dnraouary 15, 1979 under Article 201 ofthe Cons-
titutionofIniia dnlwspublish3d in PA-t I(a)of the Cs:islativa Ssppleneat of the Urtar rz l:gi 3 z:?tl?, Ez’rordizv-y, .f~teljaluory 16, 19791(b) after sub-section (2), the following sub-section shall be inrerted, namely:- “(2-A) If the bank has to lease outany land acquired by it under sub-section (1) pending sale thereof, the period of lease shall not exceed one year at a time and the lessee shall not acquire any other interest in that property, notwitbstsnding any provisions Ic the coaftrary inany other law for the rim;: heis-ig j1-1 ?c?~cP.” Aqendmelll of 5. in section 16 of the principal Act,- (a) in sub-section (I), for the words “‘by mortgage deea‘, th?; M~OTC;S
by a declaration of charge made or mortgage Qeed” shall be szibstiluteci
andfor the words “mortgage money” the words “money due under the
mortgage or charge” shall be ,substituted, and ,for the words “to bring
the mortgage property to sale” the words “to bring tht propert) subject
to any mortgage or charge to sale” shall be srrbstilnted.
(6) after srtb-section (3), the following sub-section shall be inserted,
“(4) Where any property sold under this Act is iiz the occupancy
of any person creating mortgage or charge, or of sonie person on
his behalf, or of some person claiming title subseqvent tc the crea-
tion of such mortgage or charge in favour of a land development
bank or the State Land Development Bank, the Collector, shall,
on the application of the purchaser, order delivery to be made by
putting such purchaser, or any person appointed by him in this
- behalf, in possession of the property.”
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