Amendment status not verified — confirm the current text below against the official source.
Substituted by Orissa Act 5 of 1970. (4) Every notification and notice referred to in Sub-Section (3) shall, where the maximum amount of the guarantee is to be restricted or the condi- tions subject to which the guarantee is given are to be modified, set forth precisely the scope and effect of the restriction or modification, as the case may be. 1[83-A. Grant of loan by 2[Co-operative Agricultural and Rural Development Bank] :– Any 2[Co-operative Agricultural and Rural Develop- ment Bank] may grant loan to its members against the creation of a charge on or mortgage of land free of encumbrances]. 3[1[83-B. Applicant for loan to make a declaration :– (1) Every applicant for a loan to a 2[Co-operative Agricultural and Rural Development Bank] shall make a declaration in the form prescribed by the 4[Co-operative Agricultural and Rural Development Bank] before an officer authorised by the Registrar this behalf, on solemn affirmation that the land sought to be in mort- gaged is free from all encumbrances and that the mortgagor is in possession thereof and has the right to create the mortgage. (2) The declaration made under Sub-Section (1) shall be conclusive, final and binding. (3) If at any time a declaration made under Sub-Section (1) is found to be false or defective, the 1[Co-operative Agricultural and Rural Development Bank] shall, subject to the provisions of Section 85, have a first charge on all other movable and immovable properties of the applicant, and all such proper- ties shall be deemed to have been included in the mortgage deed and the Development Bank may proceed against all such properties of the mortgagor under Section 91. Explanation – A charge created under Section 34 shall not constitute an encumbrance for the purposes of this Section and Section 83-A. (4) Only those applications which conform to the requirements of Sub- Section (1) shall, in accordance with the Rules made in that behalf, be taken into consideration by the bank.] 2[83-C. Order granting loan conclusive of certain matters :– A written order by the 1[Co-operative Agricultural and Rural Development Bank] or any Committee or other person authorised by this Act or the bye-laws of the bank to grant loans for any of the purposes specified in the bye-laws of the concerned bank, granting, either before or after the commencement of this Act, a loan for the benefit of the land or for any productive purpose specified therein shall, for the purposes of this Act, be conclusive of the following mat- ters, namely :– (a) that the work described or the purpose for which the loan is granted is an improvement or productive purpose, as the case may be, within the meaning of the bye-laws of the Society;