PUNJAB CO-OPERATIVE LAND MORTGAGE BANKS (AMENDMENT) ACT, 1986

Preamble - PUNJAB CO-OPERATIVE LAND MORTGAGE BANKS (AMENDMENT) ACT, 1986

THE PUNJAB CO-OPERATIVE LAND MORTGAGE BANKS (AMENDMENT) ACT, 1986

[Act No. 12 of 1986]

[14th April, 1986]

PREAMBLE

An Act to amend the Punjab Co-operative Land Mortgage Banks Act, 1957. BE it enacted by the Legislature of the State of Punjab in the Thirty-seventh Year of the Republic of India, as follows:--

Section 1 - Short title

This Act may be called the Punjab Co-operative Land Mortgage Banks (Amendment) Act, 1986.

Section 2 - Section 2

In the Punjab Co-operative Land Mortgage Banks Act, 1957 (hereinafter referred to as the principal Act), in the long title, for the words "co-operative land mortgage banks", the words "co-operative agricultural development banks" shall be substituted.

Section 3 - Amendment of section 1 of Punjab Act 26 of 1957

In the principal Act, in section 1, for sub-section (1), the following sub-section shall be substituted, namely:--

"(1) This Act may be called the Punjab Co-operative Agricultural Development Banks Act, 1957.".

Section 4 - Amendment of Punjab Act 26 of 1957

In the principal Act, for the words "Primary Land Mortgage Bank", "Mortgage Bank", "Co-operative Land Mortgage Bank", "Punjab State Co-operative Land Mortgage Bank Limited", "Primary Land Mortgage Banks" and "MORTGAGE BANKS", wherever occurring, the words "Primary Agricultural Development Bank", "Development Bank", "Co-operative Agricultural Development Bank", "Punjab State Co-operative Agricultural Development Bank Limited", "Primary Agricultural Development Banks" and "DEVELOPMENT BANKS" shall be substituted, respectively.