(1)Notwithstanding any law, custom or usage to the contrary all alluvial lands, newly formed islands, abandoned river-beds, shall vest in the State Government, but the holder or occupant of the bank or shore on which such alluvial land is formed, shall be entitled to the temporary use thereof, unless and until the area of the same exceeds one acre, in which case such land, island or river-bed shall be at the disposal of the Deputy Commissioner, subject to the provisions of section 92.