Section 11A in The Punjab Co-operative Land Mortgage Banks Act, 1957
11A. Financing of land improvement scheme by Mortgage Bank.
- In every case in which the Bank sanctions financing of a scheme under sub-section (2) of section 13-A of the Punjab Land Improvement Schemes Act, 1963, the Mortgage Bank shall be competent to advance loan to the landowners who will be affected by the scheme equivalent to the estimated amount falling to the share of each landowner and the amount of such loan shall be disbursed to the Soil Conservation Officer responsible for executing the scheme on behalf of the landowner without any authority from them.(2)The amount of loan so advanced shall be deemed to be loan advanced by the Mortgage Bank to such landowners and shall be subject to all the terms and conditions on which the Mortgage Bank advances loans to its members for a purpose connected with the improvement of land.
