Amendment status not verified — confirm the current text below against the official source.
At any sale of movable or immovable property iIprimary land held under the provisions of this Act in order to re- dtvelopnlent cover any money due to a 3[primary land develop- $ ~ ~ ~ , " ~ : n d ment bank], no Director, Secretary or other officer Development of such bank or of the ZEStateLand Dzvelopment Bank1 (except on behalf of the bank of which he is a Director bid at or an officer) andno sale officer or other person having any duty to perform in connexion with such sale, shall eitller directly or indirectly, bid for or acquire or attempt to acquire any interest in such property. Vating of asjets '[36-A. On and from the date of the commence, and liabilities. inont of the Amendment Act, all assets and liabilities of the existing Madras Co-operative Central Land Mortgage Bank and the existing mortgage banks shall stand transfcrred to, and vest in, the State Land Dzvelopment Bank and the primary land development b:lnks respectively.] Delegation of