Vesting of right of alienation

Notwithstanding anything contained in the Kerala land Assignment Act, 1960 (30 of 1960) or the ;rules made thereunder or anything contained in any other law for the time being in force, the State Government may by notification, vest the assignee of land under the said Act with rights of alienation, including the right to create a charge or mortgage in such land or interest therein in favour of a financial institution for the purpose of obtaining financial assistance from any financial institution subject to such restrictions as may be specified in such notification.