section 11
Consequential provisions and abolition of Primary Agricultural Development Banks
The Andhra Pradesh Co-Operative laws (Amendment) Act, 1987Corporate198713 sections
Statutory text
- (1) With effect on and from a date appointed by the Government under sub-section
- (2) of section 1, the Primary Agricultural Development Banks registered under the principal Act or deemed to have been registered under that Act shall stand abolished.
- (2) On such abolition of a Primary Agricultural Development Bank under sub-section (1), --
- (a) all rights and assets vesting in the said Bank and all liabilities against it shall devolve on the Co-operative Central Bank of the district concerned;
- (b) all contracts made by or on behalf of the said Bank prior to its abolition and subsisting on the date of such abolition shall be deemed to have been transferred to the Co-operative Central Bank of the district concerned;
- (c) persons who were members of the said Bank prior to its abolition shall notwithstanding anything in section 19 or the rules or bye-laws, be deemed to be nominal members of the Co-operative Central Bank of the district concerned without the right to vote till their loans are discharged;
- (d) the Registrar may transfer the officers and other employees who immediately before such abolition were in the service of the said Bank (including those belonging to a centralised service) to the service of the Financing Bank or a Primary Agricultural Co-operative Society in the manner prescribed: Provided that,--
- (i) the terms and conditions applicable to such officers and other employees consequent on their absorption in the service of the Co-operative Central Bank or the Primary Agricultural Co-operative Society shall not be less favourable than those applicable to such employees immediately before such abolition as respects pay and allowances, leave, gratuity, provident fund and age of superannuation; and
- (ii) the service rendered by any such officer or other employee under the said Bank upto its abolition shall be deemed to be service under the Co-operative Central Bank or, as the case may be the Primary Agricultural Co-operative Society and he shall be entitled to count that service for purpose of increment, leave or Provident fund and gratuity.
Study data processing for this section.
PDF: pending for this language.