Amendment status not verified — confirm the current text below against the official source.
In this Act, unless there is anything repugnant in the subject or Definitions. context,— (a) "agriculture" includes horticulture and dairy farming, pisciculture, forestry, sericulture, bee-keeping, piggery, poultry farming and growing of fruits, vegetables and the like; (b) "bank" means a banking company as defined in clause (c) of ID of 1949. section 5 of the Banking Regulation Act, 1949 and includes the State Bank of India constituted under the State Bank of 23 of 1955. India Act, 1955, a subsidiary bank as defined in the State Bank 38 of 1959. of India (Subsidiary Banks) Act, 1959 a corresponding new bank as defined in clause (d) of section 2 of the Banking 5 of 1970. Companies (Acquisition and Transfer of undertakings) Act, 1970 and includes any other financial institution which may he notified in this behalf by the State Government; (c) "debt" includes all liabilities in cash or in kind incurred by a debtor on or before the first day of July, 1975, either secured 179 The West Bengal Rural Indebtedness Relief Act, 1975. [West Ben. Act (Section 2.) or unsecured and payable presently or in future, but does not include the following, namely:— (i) any share of the produce of land payable on account of land cultivated under the system known as adhi, barga or bhag; (ii) any mortgage by a raiyat of his holding or any share thereof under a usufructuary mortgage referred to in sub- section (1) of section 7 of the West Bengal Land Reforms West Ben. Act X Act, 1955; of 1956. (iii) any sum recoverable as a public demand under the Bengal Ben. Act III Public Demands Recovery Act, 1913; of 1913. (iv) any sum due to the State Government or a bank or a co- operative society or a local or statutory authority or the Life Insurance Corporation of India; Explanation 1.—Any liability incurred by a debtor on or after the first day of July, 1975, which is in fact a substitution of a liability previously incurred by him shall be deemed to be a debt within the meaning of this Act; Explanation IL—For the purposes of this Act, debt includes all kinds of mortgage and a mortgage includes an out and out sale with an agreement, written or oral, for reconveyance of the property transferred, to the transferor; (d) "debtor means a person who is resident outside an area included in a Corporation, Municipality, notified area or Cantonment and who belongs to any of the following categories, namely:— (i) marginal farmer, (ii) small farmer, (iii) Sare-croper, (iv) landless labourer, and (v) artisan; (e) "farmer means a person who is engaged in agriculture; (f) "loan" means an advance, whether of money or in kind, made on condition of repayment with interest and includes any transaction which is in substance a loan; (g) "marginal farmer" means a farmer who owns land measuring not more than one hectare; (h) "small farmer" means a farmer who owns land measuring more than one hectare, but less than two hectares. 180 The West Bengal Rural Indebtedness Relief Act, 1975. XXXVII of 1975.] (Sections 3-5.)