Amendment status not verified — confirm the current text below against the official source.
Inserted by Act 27 of 1984 w.e.f. 04.05.1984 1[(4) Any transfer of land in contravention of sub-section (3) shall be null and void and the land so transferred shall, as penalty, be forfeited to and vest in the State Government free from all encumbrances and any person in possession thereof shall be summarily evicted therefrom by the Deputy Commissioner and the land shall be disposed of in accordance with the law applicable to the disposal of unoccupied unalienated lands: Provided that if the person who has transferred the land in contravention of sub- section (3) is not alive, while disposing of such land preference shall be given to the heirs of such person. Explanation.—For removal of doubts it is hereby declared that in sub-section (3), and in this sub-section transfer includes creation of a lease. (5) Nothing in sub-section (3) shall apply to transfer in favour of the State Government, a co-operative society and a bank as security for loans granted for improvements of such land 2[or for raising crops on such land]2 or for buying cattle or agricultural implements for the cultivation of such land . Explanation.—‗bank‘ means,— (i) a banking company as defined in the Banking Regulation Act, 1949 (Central Act 10 of 1949); 8 (ii) the State Bank of India constituted under the State Bank of India Act, 1955 (Central Act 23 of 1955); (iii) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (Central Act 38 of 1959); (iv) a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Central Act 5 of 1970); (v) a regional rural bank constituted under the Regional Rural Banks Act, 1976 (Central Act 21 of 1976); (vi) the Agricultural Refinance and Development Corporation constituted under the Agricultural Refinance and Development Corporation Act, 1963 (Central Act 10 of 1963); (vii) the Agricultural Finance Corporation Limited, a company incorporated under the Companies Act, 1956 (Central Act 1 of 1956). (6) Notwithstanding anything contained in any law for the time being in force, any agreement for transfer of land resumed under clause (3) of section 4, entered into prior to regrant thereof under sub-section (1), shall be null and void and any person in possession thereof in furtherance of such agreement shall be summarily evicted therefrom by the Deputy Commissioner.]1