The Manipur Agricultural Credit Operations and Miscellaneous Provision (Banks) Act, 1976

 
  
   
\i‘,
Act No...‘..:..‘ .
Date of Assent...... :
Date of Publication. 5.5.1
'THE MANIPUR AGRICULTURAL "CREDIT OPERATIONS AND
MISCELLANEOUS PROVISION (BANKS) 13:2,}, 1976
/
(As passed by the LegislatiVe Assembly, Manipur on 10-9-76)
N , .
A d“
’to make provisions to facilitate adequate (flow , of credit for Agricultural
1 Production and develgpment through 'banks and othcriingititjgtional credit agcnciu
.andfor matters connfigted themwith land/or incidental thereto.
BE it enacted by the Legislature of ‘Mafiipur in the Twefity seventh Yea: of
Repfiblic of India as follows ;—
CHAPTER—I
PRELIMINARY
1. (1) This Apgmay be called the" Manipur AgriculturaICredit She" 1111:
Operations and Miscellaneous Provisions (Bahké) Act, 1976. d
_ comflllneneo-
men
(2) It shall'extcnd tothe whole offthe State of Manipur.
(3) It shall come into force from such date as the State Government
may, by notification, in the State Gazette, appoint in this behalf and
‘dlfl‘erent dates may bc appointed for difl‘eiient provisions of the Act and
for difiFerent portions of the State. '
2 in this Act, unless the context otherwise requires—
(a) “Agriculture” and “agriculturai puiposéf’ shall include making Definjfim.
lama fit for cultivation, cultivation of land, improvement of
land including development of sources of irrigation, raising and
harvesting of crops, horticulture, forestry, planting and farming,
seed farming, pisciéulture, apiculture, sericulture, pyggery,
poultry farming and such other activities as are generally carried
»on by agricultiirists, dairy farmers, Cattle'brecders, poultry farmer
(b)
(C) _
(d)
2
and other categories of persons engaged in similar activities.:
including marketing of agriCultural products their storage andt:
transport and the acunSition of implements and machinery;
in connection with any such activities and such other pur-‘i _
poses as the State Government may, by notification in the-
ofiicial gazette, Specify. '
“Agriculturist” means a person who is engaged in agriculture or ‘
who desires to be engaged himself in agriculture.
“Agro—Industries Corporation” means a company or other
body Corporate one of the principal objects of which is to
undertake activities connected With or intended for the develop-
ment of‘ agriculture and not less than fiftyone per cent of
the paid up share capital of ' which is held by the Central
Government or by any State Government or Governments or
partly by ‘the Central Government and partly byone or
more State Governments.
“Bank” means :-
(i) a banking company as defined in the Banking Regulation
Act, 1949'; '
(ii) The State Bank of India constituted under the State Bank
of India Act, 1955; .
(iii) a subsidiary Bank as defined in the State Bank of India
(Subsidiary Banks) Act, 1959 ;
(iv) a corresponding new Bank constituted under the Banking
Companies (Acquisition and Transfer of Undertakings)
Act, 1970 ; .
(v) a Regional Rural Bank established under sub—section (1')
of Section (3) of the Regional Rural Banks Ordinance,
1975 (13 of 1975) ;
(vi) any banking institution notified by the Central Govern-
ment under Section 51 of the Banking Regulation Act, 1949:
(vii) the Agricultural Refinance Corporation constituted under
the Agricultural Refinance Corporation Act, 1963 ;
(viii) the Agro-Industries Corporation as defined 111 Sub-
Section (c) ; 7 '
(ix) Agricultural Finance Corporation Limited, a company
incorporated under the Companies Act, 1956 ; and
(11) any other financial institution notified by the State-
Govemment in the Official Gazette as a Bank for the
purpose of this Act.

‹ Prev All Manipur acts Next ›