Application of Chapter to certain Land Development Bank.

Application of Chapter to certain Land Development Bank. This Chapter shall apply to Land Development Banks advancing loans, other than short terms loans, for the purposes herein enumerated that is to any— (i) improvement and development of agriculture and productive purposes; (ii) the erection, rebuilding or repairing of house for agricultural purposes ; (iii) the purchase or acquisition of title to agricultural lands by tenant purchasers or tenants under the Bombay tenancy and Agricultural Lands Act, 1948, or any corresponding law for the time being in force in any part of the State ; (iv) the liquidation of debt under the Bombay Agricultural Debtors Relief Act, 1947, or any corresponding law for the time being in force in any part of the State; (v) the purchase of agricultural lands by agriculturists whose agricultural lands have been acquired for any public purpose under the Land Acquisition Act, 1894 or any other law for the time being in force ; (vi) promoting the development of animal husbandry, dairy farming, poultry farming, pisciculture or fishery ; or (vii) purchase of shares in a co-operative society engaged in the manufacture of sugar. Explanation 1.—For the purposes of this section a short term loan means a loan for a duration of less than 18 months, Explanation 2.—Productive purposes means any work, construction or activity which adds to the productivity of the land and, in particular, includes the following, that is to say— (a) construction and repair of wells (including tube wells), thanks and other for the storage, supply or distribution of water for the purpose of agriculture, or for the use of men and cattle employed in agriculture ; (b) renewal or reconstruction of any of the foregoing works, or alteration therein, or additions thereto ; (c) preparation of land for irrigation ; (d) drainage, reclamation form rivers or other waters, or protection from floods or from erosion or other damage by water, of land used for agricultural purposes, or waste land which is cultivable ; (e) building and similar improvements ; (f) reclamation, clearance and enclosure or permanent improvement of land for agricultural purposes ; (g) horticulture; (h) purchases of oil-engines, pumping sets and electrical motors for any of the purposes mentioned herein; (i) purchase of the tractors or other agricultural machinery; (j) increase of the productive capacity of land by addition to its of any special variety of soil; (k) construction of a permanent farm-house, cattle-sheds for processing of a agricultural produce at any stage; (l) purchase of machinery for crushing sugarcane, manufacturing gur or khandsari or sugar; (m) purchase of land for consolidation of holdings under the Bombay Prevention of Fragmentation and Consolidation of Holdings Act, 1947; (n) such other purposes as the State Government may, from time to time, by notification in the Official Gazette, declare to be productive purposes for the purpose of this Chapter.