The Hyderabad Agriculturists' Loans Act, 1950
Act No. 2 of 1950
Whereas, it is expedient to provide for the grant of loans, to agriculturists for purposes connected with agricultural objects not specified in the Hyderabad Land Improvement Loans Act, 1950.
It is hereby enacted as follows:-
1. Short title, extent and commencement. - (1) This Act may be called the Hyderabad Agriculturists' Loans Act, 1950.
(2) It extends to the whole of the [Hyderabad area of State of Maharashtra],
(3) It shall come into force from the [date of its publication] in the Jarida.
2. Taqavi rules which were in force before the commencement of this Act and the loans advanced thereunder. - (1) All taqavi loans granted before the commencement of this Act for any of the purposes mentioned in section 3 of this Act shall be deemed to have been granted under this Act and any sums due in respect of such taqavi loans shall be recoverable as if they were due under this Act.
(2) All taqavi rules applicable to loans granted for any of the purposes mentioned in section 3 of this Act, which were in force immediately before the commencement of this Act shall until superseded by rules made under this Act, be deemed to be rules so made :
Provided that any provisions of such rules which are inconsistent with the provisions of this Act shall have effect subject to such omissions or modifications as may be required for the removal of the inconsistency.
3. Power of Government to make rules. - The Government may, from time to time, by notification in the Jarida, make rules to regulate the grant of loans to owners and occupiers of arable land for the relief of distress, the purchase of seed or cattle or any other purpose not specified in the Hyderabad Land Improvement Loans Act, 1950, but connected with agricultural objects.
4. Recovery of loans. - Every loan granted in accordance with such rules, all interest (if any) chargeable thereon, and costs (if any) incurred in making or recovering the same, shall, when they become due, be recoverable from the persons to whom the loan was made, or from any person who has become surety for the payment thereof, as if they were arrears of land revenue or costs incurred in recovering the same due by the person to whom the loan was made or by his surety.
5. Liability of joint borrowers as among themselves. - When a loan is made under this Act to the members of a village community or to any other person on such terms that all of them are jointly and severally bound to the Government for the payment of the whole amount payable in respect thereof, and a statement showing the portion of that amount which as among themselves each is bound to contribute is entered upon the order granting the loan and is signed, marked, or sealed by each of them or his agent duly authorised in this behalf and by the officer making the order, that statement shall be conclusive evidence of the portion of that amount which as among themselves each of those persons is bound to contribute.
6. The Board of Revenue may be authorised to frame rules. - The Government may authorise the Board of Revenue to exercise, subject to the control of Government, the power conferred on Government by section 3.