Priority of charges

No charge or mortage created on any land or interest or crops standing thereon, after the commencement of this Act, in favour of Government or a co-operative society shall have priority over a charge or mortage on such land or interest created by a land-holder in favour of a bank as security for financial assistance given to the land-holder by the bank after the commencement of this Act, and prior to the charge or mortage in favour of Government or the co-operative society.