The Assam Co-operative Land Mortgage Bank (Amendment) Act, 1964

The 2nd Decem ber 1964
No.L JL  .40/64/4.—The following Act of the  Assam Legis lative Assembly 

which received the assent of the  G overnor is hereby publi shed  for gen era l 
info rma tion .

Pream ble

(Received the assent of  the Governor on the 28th November, 1964)

ASSAM  ACT XXIV  OF  1964

TH E ASSAM CO -O PE RA TIVE  LAND  MOR TG AG E BANK 
(AM ENDM ENT) ACT, 1964

[Published in the Assam Gazette Ext raordin ary , date d the 3rd December , 
1964].

An
Act *

to amend the Assam Co-operative Land Mortgage Bank Act, 1980

Whereas it is expedien t to amend  the Assam Assam Act 
Co-operative Land Mortgage B^nk Act, i96 0, herein- 1 °1 1961 
afte r called the principal  Act , in the  manner herein ­
afte r appearing  ;

I t is hereby enac ted in the  Fifteen th Year  of the  
Rep ubl ic of I dia  as follows: —

1. ( i)  This Act may be called the Assam Co ­
operativ e Land Mortgage Bank (Amendm ent) Act ,
1964.

(2) It  shall have  the like extent  as the  princ i­
pal  Act.

(3) I t shall come into force at once.
2. In  Section 8 of the principa l Act, in sub­

section (1),—
Act 1 of

1961. (1) between the words ‘ in favour of ’ and
‘a Mortga ge Bank’ t he words ‘the Central Mortgage 
Bank or ’ shall  be inser ted ;

(2) between the  words ‘the’ and  ‘Commit tee’ 
the  words ‘Board o r the ’ shall be inser ted ;

(3) between the words ‘the ’ and  ‘said’ the 
words ‘Cen tral  Mortgage Bank or the’ shall  be 
inserted .

Short title,  
extent and 
commence­
ment.

Amendment 
of  Section 8



2

Amendment 3, j n  Section 11 of  the prin cipal Act, in sub-

Act 1 of 
1961.

(1) between the words 'th e’ and  ’Mortgage 
Bank’ the words ‘Centra l Mor tgage Bank  and  the’ 
shall be inserted ;

(2) between the  words ‘Mortgage  dee d’ and  
‘the Comm ittee ’ the words ‘the Board  or’ shall be 
inserted.

Amendment 4. In sub section (1) o f Section 12 of the principa l 
of  Section . .
12 o f Assam -

Act 1 ol
1961. (1) between the words ‘thereof’ an d ‘the

Com mitt ee’ the words ‘the Board or’ shall be inserted 
and the  words ‘of a Mortgage  Bank’ o ccurring after  
the  word  ‘Comm ittee ’ shall be deleted ;

(2) between the words ‘such’ and  ‘Com mit tee’ 
the words ‘Board or the’ shall be inserted  ;

Amendment 5. In  Section 13 of  the  prin cipal Ac t,— 
of Section  ,
13 of Assam (1) jn  sub-sect ion ( ! ) ,—•

Act 1 of k v 7

1961.

(a) between the  words ‘the’ and ‘Com mi ttee’
the words ‘Board or th e’ shall  be in ­
serted  'a nd  the  words ‘of the  Mort ­
gaged Bank’ occurring afte r the word 
‘Comm ittee’ shall be dele ted ;

(b) in clause (a),  between the words ‘to’ an d
‘the’ the  words ‘the Central Mort ­
gage Bank or’ shal l be inserted  ;

(2) in sub-sect ion (2), between the words 
‘made ’ and  ‘the Com mit tee’ the words ‘the Board or ’ 
shall be inserted ;

(3) between the words ‘disa llow ed’ and ‘the 
Com mit tee’ the words ‘the Board or ’ shall be inse r­
ted.

Amendment 6. In  Section 16 of the prin cipal Act, in sub- 
of Section section (1), between the  words ‘in  favour of ’ and  ‘the’
16 of Assam the words ‘the Centra l Mor tgage Bank or ’ shall  be 
A m i .

Amendm ent 7. In  Section 17 of the prin cipal Act, in sub- 
of Section SeC t iO n  (1), be tween the words ‘of’ a n d ‘a Mortgage
17 A Va ^lr Bank’, the words ‘the Centra l Mortgage  Bank or ’ 

1961, sha ll be inserted.



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amendment 8, In  Section 18 of the  princ ipa l Act,  betw een 
18 of Assam t l̂ e  w o r ds ‘against ’ and ‘the Mortgage Bank’ the

A c t I of words ‘the Central Mor tgage Bank or ’ shal l be
1961. inse rted .

Amendment 9. In  Section 22 of the  prin cipa l Act,— of  Section r  1

22 of Assam
Act I cf

1961. (J) between the words ‘to’ and  ‘a Mortgage
Bank’ the words ‘the Central Mor tgage Bank or ’ 
shall  be inser ted ;

(2) between the  words ‘by’ and  ‘the’ the  words 
‘the  Board or ’ shall be inserted and  the words ‘of the 
Mortgage Bank’ o ccurring afte r the word ‘Com mittee’ 
shall  be deleted ;

(3) between the words ‘deter min ed by’ and  
‘the’ the words ‘the Board or’ shall  be inserted ;

(4) in the Explanat ion , between the  words 
‘ the ’ and ‘Mor tgage Bank’ the words ‘Central Mo rt­
gage Bank or the’ shall be inse rted .

Amendment 10,  In  section 23 of  the  pi inc ipa l Act,—
23 of Assam (1) for sub-section (1), the  following shal l be
Act I of subst itu ted , name ly:  —

1961,
“ (1) Th e Tru stee may direct the  Board 

or the  Committee, and the  Board may  direct 
the  Comm ittee  to take  action aga inst  a defaul ter 
under section 8, section 11 or section 12 and if  
the  Board or the  Comm ittee  neglec ts or fails to do so, 
the  Tru stee or the Board  may  take  such ac tio n.” ;

(2) in sub-section (3),—
(a) between the  words ‘to’ an d ‘Mor tgage Bank’

the words ‘the Central Mortgage Bank 
or the’ sha ll be inser ted ;

(b) for the word ‘its’ occu rring  between the
words ‘to’ and  ‘Com mittee ’ the  words 
‘the Board or the’ sh all be substitu ted.

Amencln ent 
of Section 
25 of Assam

Act I of 
1961.

11. In  Section 25 of the  principa l Act,—
(1) between the words ‘in favour of’ a n d ‘a

Mortgage Bank ’ the words ‘the Central 
Mor tgage Bank or’ shall be inserted  ;

(2) between the words ‘give’ and ‘the Mort ­
gage Bank’ the words ‘the Central Mort­
gage Bank or ’ shall fce inserted.

Amendment 12. In  section  26 of the princi pal  Act,  in clause (a' 
° f  Section betw een the words ‘be paid to’ and ‘the Mor tgage

Act TT f Bank’ the words ‘the Central Mor tgage Bank or’ 
I96I. shall  be in serte d.



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Amendment 
of Section  
28 of Assam

Act I of  
1961.

13. In  Section 28 of the  principal Act ,—
(1) in sub-section (1), between the w ord s‘in

favour o f ’ and ‘Mortgage Ban k’ the 
words ‘the Ce ntr al Mortgage Bank or’ 
shall be inser ted ;

(2) in sub-section (2), in the proviso, between 
the words ‘by the ’ and ‘Mo rtgage  Bank’ 
the  words ‘Cent ral Mortga ge Bank or 
th e’ shall be inserted.

U. TA HBILD AR,
Deputy Secy, to the Govt, of Assam.

Law Depa rtment