(3)Notwithstanding anything contained in this Act or any other law, any document creating or purporting to create any other form of usufructuary mortgage of an occupancy holding or a share or portion thereof shall not have any force or effect and no such document shall be received in evidence or acted upon in any Court or by any public servant.Explanation. - A 'complete usufructuary mortgage' means a transfer by a tenant of the right of possession in any land for the purpose of securing the payment of money or the return of grain advanced or to be advanced by way of loan, upon the condition that the loan, with all interest thereon, shall be deemed to be extinguished by the profits arising from the land during the period of the mortgages.
