Amendment status not verified — confirm the current text below against the official source.
Powers of Board to make regulations.-Notw1thstantlmg anythmg contamed m tho Travancore-Cochin Co-operative Societies Act, 1951, or the Madras Co-operative Societies Act, 1932 01 the rules made under the sa1d Acts, the Board shall ha'-(e general power of supervtsion over the primary mortgage banks and may make regulations not mcot.~istent with this Act or the rules made thereunder- (a) for the mspection of the account book::. and proceed- Ings of primary mortgage banks; (b) £0r the submission of retums and reports by prtmary mortgage banks in respect of their transactions; (c) for the periodical settlement of accounts between pnmary mortgage banks and the Central Mortgage Bank and for the payment of the amounts recovered by prtmary mortgage bank!> on mortgages transferred, or deemed under the proVISIOns of section 23 to have been transferred, to the Central Mortgage Bank; (d) pres_cnb1ng the form m which apphcatwns to primary mortgage banks for loans should be made and for the valuation of the properties offered as security for such loans; (e) for the mvestment of moneys reah!:>ed from the mortgagors; and ' (f) generally for the purpose of safeguardmg the interest of the parties concerned and for carrymg out the· purposes of this Act. _ 4::1. Certain nghts and ltabilittes of the Cochin Co-operative Lt:~nd Mortgage Bank to contwue in that Bank.-Notwtthstand- mg at).ything contamed m tlus Act, all assets, rights and hab h- tles of the Cochm Co-operative Land Mortgage Bank, Ltmited, subst.o.tmg at the commencemeni: of this Act shall co~tmue to_be the assets, nghts and habtlmes of the sa1d Bank and the provi- sions of the Cochm Co-operat1ve Land Mortgage Bank· Act, XXV of 1111, shall apply w1th respect to such assets, rights and l1abtlities.