After possession has been so taken, the grant shall be held subject to the conditions declared applicable thereto.

Legal effect of statement of conditions Subject to the provisions of this Act, the grant of any tenancy in accordance with any statements of conditions which have been or may hereafter be issued by the [State] Government under the Government Tenants (Punjab) Act, 1893, or under this Act shall be deemed to be transfer of a land within the meaning of the Government Grants Act, 1895, and shall be governed by the provisions of the said Act.