27. Exemption of certain lands from the operation of the Act.
- The provisions of this Act shall not apply to -(a)lands owned by or vested in the State Government otherwise than under the provisions of this Act, or lands taken on lease by the State Government;(b)lands belonging to or vested in a local authority or the Punjab Agricutural University or any corporation owned or controlled by the Central Government or the State Government;(c)lands owned by the Bhoodan Yagna Board under the Punjab Bhoodan Yagna Act, 1955; and(e)lands owned or held by an agricultural co-operative credit society, Land, Mortgage Bank, the State or Central Co-operative Bank or any other Bank;(f)[ lands owned by an educational institution, recognised by Government, which is engaged in the education and research in agricultural sciences and has been conducting such education and research on the appointed day; [Clauses (f) and (g) added by Punjab Act 40 of 1973, Section 6.](g)lands owned by an educational trust of public nature in existence on the appointed day] :Provided that nothing in this Section shall apply to a lessee of any of the authorities or institutions referred to above.Explanation. - For the purposes of clause (e) "bank" means a banking company as defined in section 5 of the Banking Regulation Act, 1949, and includes the State Bank of India constituted under the State Bank of India Act, 1955, a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959, a corresponding new bank as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and Agricultural Refinance Corporation constituted under the Agricultural Refinance Corporation Act, 1963.
