Rights of transfer of land of a Society in certain area and the Society's right to bring it to sale

(1) Notwithstanding anything contained in the Central Provinces Tenancy Act, 1898 (CP Act 11 of 1898),or the Central Provinces Tenancy Act, 1920 (CP Act 1 of 1920), or the Angul Laws Regulation, 1936 (Orissa Regulation 5 of 1936), or the Khandmals Laws Regulation, 1936 (Orissa Regulation 4 of 1936), or any other laws for the time being in force, defining the rights of tenants on the land and the relation between Government and tenant or the landlord and tenant, it shall be lawful in an area in the State of Orissa, where any of the above enactments is in force, for– (a) a member of a Society or a person other than a member to whom loan has been made, in accordance with provisions of Section 59, whether such member is an occupancy tenant or otherwise, to mortgage to the Society his rights in his holding as a security for the loan advanced to him or to sell such right for the purpose of repaying such loan or advance; or