Short title, extent, commencement and limitation of scope of Act to certain mortgages

(1) This Act may be called the Redemption of Mortgages (Himachal Pradesh) Act, 1971. (2) It extends to the whole of Himachal Pradesh. (3) It shall come into force at once. (4) It shall apply only to mortgages of land- (a) in which, whatever the mortgage money, the land mortgaged, after excluding the area of any share in the common land of the village or of a sub-division of the village appertaining thereto and mortgaged therewith, does not exceed in area of 50 acres; or (b) in which, whatever the area the principal money secured under the mortgage does not exceed Rs. 5,000.