Right of Co-operative Land Development Bank to buy mortgaged property

(1) Property purchased under sub-section (3) of section 137 by, and property transferred under section 103 to, the Co-operative Land Development bank may be disposed of by such bank by sale within such period as may be fixed by the Trustee, subject to the condition that such sale be in favour only of agriculturists eligible to hold land under the Tripura Land Revenue and Land Reforms Act, 1960 or any corresponding law for the time being in force, or may be leased out by them on such terms and conditions as may be laid down by the Government from time to time. (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 co-operative land development bank under this section.