Rural Development Bank.

Right of Agriculture and Rural Development Bank to buy mortgaged property.—

1. (1) Property purchased under section 133(3) by, and property transferred under section 100 to the Agriculture and Rural Development Banks, may be disposed of by such banks by sale within such period as may be fixed by the Trustee, subject to the condition that such sales shall be in favour only of agriculturists eligible to hold land under the Bombay Tenancy and Agricultural Lands Act, 1948, or any corresponding law for the time being in force, or in favour of Tribal, if such property belongs to a Tribal or may be leased out by them on such terms and conditions as may be laid down by the State Government from time to time. Explanation — for the purposes of this sub-section and section 133A, "Tribal" means a person belonging to a Scheduled Tribe within the meaning of the Explanation to Section 36 of the Maharashtra Land Revenue Code, 1966, and includes his successor in interest.
2. (2) Nothing contained in any law for the time being in force fixing the maximum limit of agricultural holdings shall apply to the acquisition or holding of land by the Agriculture and