Amendment status not verified — confirm the current text below against the official source.
Central Land Development Bank.- (1) There shall be a Central Land Development Bank for the entire Union territory of Puducherry. (2) A reference to Land Mortgage Bank in any law, or instrument for the time being in force in Puducherry, shall, with effect from the commencement of this Act, be construed as a reference to a Land Development Bank within the meaning of this Chapter. (3) With effect from the commencement of this Act, and until such time as the name of the Land Mortgage Bank functioning in Puducherry at the commencement of this Act is changed into the Central Land Development Bank, all acts done by it or mortgages and other documents executed by it, or in its favour, and all suits and other proceedings filed by or against it shall be deemed to have been done, executed or filed, as the case may be, by or against it as Land Development Bank.