Vidhi Codex

THE PUNJAB SCHEDULED CASTES LAND DEVELOPMENT AND FINANCE CORPORATION ACT, 1970

The Punjab Schedule Castes Land Reforms and Finance Corporation Act, 1970

Civil197032 sections7 chapters

This Act establishes the Punjab Scheduled Castes Land Development and Finance Corporation to foster the economic advancement of Scheduled Caste communities in Punjab. It empowers the Corporation to provide financial assistance, loans, and grants for agricultural development, small-scale industries, and business ventures. By managing specific funds for land development, guarantees, and relief, the Corporation acts as a financial bridge for marginalized groups. For the ordinary citizen, this law provides a structured pathway to access capital and business support, while also establishing clear procedures for loan recovery and administrative accountability, ensuring that state resources are effectively directed toward social welfare and economic empowerment.

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Chapter I PRELIMINARY →

  1. 1Short title
  2. 2Definitions

Chapter II INCORPORATION OF PUNJAB SCHEDULED CASTES LAND DEVELOPMENT AND FINANCE CORPORATION AND ITS CAPITAL →

  1. 3Establishment of Punjab Scheduled Castes Land Development and Finance Corporation
  2. 5Authorised capital

Chapter III MANAGEMENT OF THE CORPORATION →

  1. 6Management
  2. 8Term of office
  3. 9Disqualification of office of Director
  4. 10Director not to participate in certain cases
  5. 12Meetings
  6. 13Executive Director
  7. 14Defect in appointment not to invalidate acts, etc.
  8. 15Officers and other employees of the Corporation

Chapter IV FUNCTIONS AND FUNDS OF THE CORPORATION →

  1. 16Functions of Corporation
  2. 17Corporation to maintain four funds.
  3. 18Land Development and Finance Fund.
  4. 19Guarantee Fund.
  5. 20Bad Debts Fund.
  6. 21Relief and Common Good Fund.

Chapter V LOANS →

  1. 22Power to impose conditions for loans.
  2. 23Power to call repayment before agreed period.
  3. 24Recovery of money due to the Corporation.
  4. 25First charge of Corporation's loans on debtor's property.

Chapter VI ACCOUNTS AND AUDIT →

  1. 26Accounts.
  2. 27Audit.

Chapter VII MISCELLANEOUS →

  1. 28Dissolution of Board.
  2. 29Consequences of dissolution of Board.
  3. 30Bar of jurisdiction.
  4. 31Protection of action taken in good faith.
  5. 33Exemption from registration fee and stamp duty.
  6. 34Power to make regulations
  7. 35Power to make rules

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