Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything contained in any law for the time being in force, an agricul turist who has availed him self of financial assistance from a bank by creating a charge or mortgage on land or interest therein, shall not, so long as the financial assistance continues to be outstanding, lease or create tenancy rights on such land or interest there in without prior permission in writing of the bank if he has not already leased or created tenancy rights thereon at the time of availing if the finan cial assistance from the bank. (2) Any lease granted or tenancy rights created in contravention of this section shall be void. CHAPTER IV A rrangem ent fo r R ecovery o f dues by B anks