Amendment status not verified — confirm the current text below against the official source.
Exemptions.- The provisions of this Act shall not apply to- (a) lands owned by the State Government or the Central Government; (b) lands belonging to registered Co-operative Farming Societies: Provided that the share of a member of such society, together with his other land, if any, does not exceed the permissible area; 1[(c) lands belonging to Land Mortgage Banks, the State and Central Co-operative Banks and any other Banks. Explanation.- For the purpose of this clause `any other Banks' means a banking company as defined in section 5 of the Banking Regulation Act, 1949 (10 of 1949), and includes the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), as Subsidiary Bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), and a "corresponding new bank" as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), the Agricultural Refinance Corporation, and Agro-Industries Corporation, Agricultural Finance Corporation Ltd., a company incorporated under the Companies Act, 1956 (1 of 1956), and any other financial institution notified by the State Government in this behalf;] (d) lands belonging to or vested in local authorities; 2[Explanation: For the purpose of this sub-clause “local authority” means a Nagar Panchayat, Municipal Council, Municipal Corporation, Gram Panchayat, Panchayat Samiti, Zila Parishad, Board, Corporation, University or other statutory bodies constituted under any law made by the State Government or the Central Government;] 3[(e) and (f) XXXXXXXXXXXXXXXXX] (g) tea estates; 4[(h) land as is notified by the State Government being land which is held or to be acquired in any manner, by an industrial undertaking for a bonafide industrial use, or by a hydel project for a bonafide project use. In considering whether