Land held by a member to be transferred to the farm

When a co-operative farm has been registered under section 181 all lands in the circle held by the members shall, for so long as the registration of the co-operative farm is not cancelled, be deemed to be transferred to and held by the co-operative farm which shall thereupon hold such land in accordance with the provisions of this Chapter, and may, notwithstanding anything contained in this Regulation, use it for purpose of agriculture or for the development of cottage industries.