Amendment status not verified — confirm the current text below against the official source.
A written order by the *[Agricultural Development Bank], or persons or committees authorised by this Act or under the bye-laws of the bank to make loans for all or any of the purposes specified in section 85 granting, either before or after the commencement of this Act, a loan to or with the consent of a person mentioned therein, for the purpose of carrying out the work specified therein for the benefit of the land or for the productive purpose specified therein, shall for the purposes of this Act be conclusive of the following matters, namely:- Order granting loan conclusive of certain matters. [Act No.7 of 1964] 141 (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 section 85; (b) that the person had at the date of the order a right to make such an improvement, or incur expenditure for productive purpose, as the case may be; and (c) that the improvement is one benefiting the land specified and productive purpose concerns the land offered as security, or any part thereof as may be relevant.