Amendment status not verified — confirm the current text below against the official source.
(1) W11er.e an agriculturist creatcs a c1~11.gi: land ill 011 Iartd, or ally other itnmovable pl-opcl'ty i:)flich Ill: f ( OWIIS 01' in which hc I ~ a s nn i ~ ~ t e r e s t in rzspcct oi' a hank by n declnrfitiun. arly fi nancirtl assistance given to him by il bank, hf: shall make a declaration in the form sei out i n the sclledule hereto or as near thereto as circurns ta ilccs permit, declaring that thereby he creates, ill fauoul- of the bank, a charge on such lsncl or his interest therein, or other im.~novable property, as the case may be, to secure the financial assistahce given to him by the bank. (2) A declaration made under sub-section ( 1 ) may be varied from time to time by the agriculturist with the consent of the bank in whose favour the declaration has been made and any such vari n t' lon shall take effect from such date on which the variation, if it had been an original declaration., would have effect under section 7. EHARGES AND MORTGAGES IN FAVOUR OF BANKS AND THEIR PRIORITIES ,,,,, .,