TAMIL NADU ACT NO.35 OF 1979 (For Statement of Objects and Reasons, See Tamil Nadu Government Gazette Extraordinary, dated the 25th April 1979, Part IV-Section 1, Page 269) THE TAMIL NADU CO-OPERATIVE LAND DEVELOPMENT BANKS (AMENDMENT) ACT, 1979 [Received the assent of the Governor on the 30th May 1979, first published in the Tamil Nadu Government Gazette Extraordinary on the 2nd June 1979 (Vaikasi 19, Chitharthi (2010-Tiruvalluar Andu)).] An Act further to amend the Tamil Nadu Co-operative Land Development Banks Act, 1934. BE it enacted by the Legislature of the state of Tamil Nadu in the Thirtieth Year of the Republic of India as follows:— Short title 1. This Act may be called the Tamil Nadu Co-operative Land Development Banks (Amendment) Act, 1979. Substitution of new section for section 3-D, Tamil Nadu Act X of 1934 2. For section 3-D of the Tamil Nadu Co-operative Development Banks Act, 1934 (Tamil Nadu Act X of 1934) (hereinafter referred to as the principal Act), the following section shall be substituted, namely:— “3-D. Purposes of which loans may be granted.—A primary land development bank or the State Land Development Bank may grant loans for all or any of the following purposes, namely:— (a) development of agriculture including making land fit for cultivation, improvement of land, development of sources of irrigation; (b) (i) animal husbandry, (ii) pisciculture including fish catching, (iii) apiculture, (iv) sericulture and all activities incidental or ancillary thereto; (c) activities connected with processing, storage, transport and marketing of produce of agriculture, animal husbandry, pisciculture, apiculture and sericulture; (d) purchase of tools, implements, machinery and cattle for use in any of the above purposes; (e) such other purposes as the State Government may by notification specify in this behalf. Explanation.—For the purposes of this section— (a) ‘agriculture’ includes horticulture, raising of crops (including plantation, tree-crops and garden produce), seed faming and forestry; and (b) ‘animal husbandry’ includes cattle breeding, dairy farming, piggery and poultry farming.”. Amendment of section 4-A Tamil Nadu Act X of 1934 3. In sub-section (1) of section 4-A of the principal Act, for the words “in respect of loans granted to the Tamil Nadu State Electricity Board”, the words “in respect of loans granted to such— (i) corporations; (ii) local bodies; (iii) institutions; (iv) co-operative societies; and (v) individuals as may be approved by the State Government shall be substituted. |
