Amendment status not verified — confirm the current text below against the official source.
4 Tills exprcsstvn was ~uhst~ti~ted for the expression " Central Mollgage H.rnL" by scclto114 of the Tamil Nadu CO-operative Land Mortgage l3.1nks (Amendment) Act, 1969 (Tarnil Nadu Act 14 of 1969). 6 This cl.u~,c was substituted for the original clause (b) by section 4 ( I ) , ibid. 6 T ~ I S cxprcssion was substituted for the axpressio~ '* mortgage, 2 bank " by section 4, ibid. 6r(Jf) small farmcr ' meanc a person o~ ning or c~lltivating: onc hcctnrc of Innti o r Ice\ ;I (g) ' T~~rstec ' mcnnc thc T1.ustcc 1.cfci rctl to in scct ion 5. I - - -- 1 Thi$ clause was substit~ltcd for the original el:~use(c/) by scctlon 3(2) of thcTarnil Nadu Co-opcr,rtiveLand Mortgage Ranks (Anlcntl- ment) Act, 1969 (Tan111 Natlu Act 13 of 1969). I ZThesc words were substitutcd for the word " h4adra.i" by the Tamil Nadu Adaptation of Laws Order, 1969, as amended by thc Tamil Nndu Atlaptation of L:tws (Second Amcndmcnt) Ortlcr, 1909. a The words " Provincial,3overnment " were substitutcd for the words " Local Gzvernment by the Adaptation Order of 1937 and the word State was substituted for "Provincial " by the Adapta- I1 tion Order of 1950. 4This clause was substituted for the original clause by scction v , , L- t b 3(3) of the Tamil Nadu Co-operative Land Mortgage Banks (Amend- ment)Act, 1969(Tmll Nadu Act 14of 1969). 8 Thb clause was inserted by section 3(4), ibid. \ 1 I ~ , ~ ~ * ~ ~ - b " * ~ - . **i.--** & q<,T --7 'y4 T* f ,, d* 12 :,.a'' a d [19& : TA. Act x '[CHAPTER I-A, Land Development Bmb, Board and Connnittee. 3-A. (1) There shall be a State Land Development S@w *d Bank for the State of Tamil Nadu and as many primary Pri-9 laad land development banks as may be deemed necessary. drvel0Pnut banLs. (2) On and from the date of the commencement of the Tamil Nadu Co-operative Land Mortgage Banks (Amendment) Act, 1969 (hereinafter referred to as the Amendment Act), the existing Madras Co- operative Central Land Mortgage Bank Limited shall be deemed to be, and shall be, the State Land Develop- ment Bank. (3) The Board shall consist of such number of members to be elected and nominated, as may be prescribed : Provided that representation in the Board shall be given to the weaker sections of society such as small farmers, Scheduled Castes and Scheduled Tribes : Provided also that the number of nominated members shall not exceed one-fifth of the total number of members of the Board : Provided further that the Board constituted for the first time after the date of commencement of the Amendment Act shall include the 2[existing members of the Board of Directors of] the Madras Co-operative Central Land Mortgage Bank until the I expiry of their existing term of office. (4) On and from the date of rhe commencement of the Amendment Act, every primary land mortgage bank in existence shall be deemed to be, and shall be, a primary land development bank and a member of the State Land Development Bank. 1 Chapter 1-A war lnaerted by section 5 of the Tamil Nadu Co- optative Land Mortgage Banks (Amendment) Act, 1969 (Tamil adu Act 14 of 1969). 1934 : f'd. Act XI 60-0 erative ~ r m d 45j P Deve opment B& (5) Every new primary land development bank registered after the date of the commencement of the Amendment Act shall, on such registration, be deemed to be, and shall be, a member of the State Land Development Bank : Provided that any primary land development bank may, with the approval of the Registrar, be removed from membership of the State Land Develop- ment Bank by a resolution of the Board and any application for obtaining such approval shall be made within two months from the date of registra- tion of the primary land development bank. 3-B.'[(l)]The election of the members of the Board Election of i in respect of each district shall be held at a meeting :z;2rs0f of the 2[presidents] of the primary land development banks in that aistrict, at such place and at such time as may be fixed by the State Government or any officer authorised oy the State Government and shall I I be conducted in the manner prescribed. I 3[(2) The election of a person as a member of the Board shall not be called in question on the ground of the existence of any vacancy for whatever reason among thc presidentsof theprimary landdevc- lopment banks.] 3-C. (I) Tlze State Goverrunent may appoint an Appoint. execbtive officer for the State Land Development Bank merit of or a manager for any primary land development bank ~ ~ ~ ~ ' " for the purpose of safeguarding the interest of the and uhareholdcrs or members, for ensuring the proper Mann:~,. ISoction 3-8 was renumbered as sub-section (1) of that section by section 3 of the Tamil Nadu CO-operative Land Development Banks (Amendment) Act, 1970 (Tarn11 Nadu Act 4 of 1970). 'This word was substituted for the word "delegates '' by section 3(i), ibid. 8 This sub-section was added by section 3(ii), ibjd. I ' pr'.- T Wi' . ; ' . . ' ,% - $ Ceoperative tand ~1934: T.N. Act X Development Banks a . utilisation of the amounts guaranteed by the State Government, for reducing the overdues of the bank, i . F for impro~ ing the efficiency of the administration of , . the oank, or f'or such other purpose as the State I Governmen: may, by general or'special order, specify: Provided that such pober shall be exercised afta consulring the bank concer~led. (2) The executive officer and the manager shall belong to such cadrc, class or category and shall hold F U C ~ qllalifications and exercise sucll powers and perform such fi~nctions as inay be prescribeci. Purposes for which loan may be granted. Agency of other Co-operative Banks. Power to mxke rules 3-D. Thc loans uhich nlay beganted by a prilnar~l land devc1op:ncnt bank i.r the State Lana Dcvelopnlzot Bank sha 11 ra!a te to such purposes per.t?ininz to develop- ment of land as may bc prescribed. 3-E. Th: State Lanil Development Bank or any pri mary la11L1 clevelop~n~ni bank nlay f~ulction ac rhe ngcqt ol'nn! GO-opcrarh c hank st~bjcct lo sxch condi- tions as 111~. Rcgictr-ar ma). hy gcne~xl