Section 20 in Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979
20. Restriction on lease.
(1)Notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882), or any other law for the time being in force, no mortgagor of property mortgaged to an [Agriculture and Rural Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.] shall except with the prior consent in writing of the Bank and subject to such terms and conditions as the Bank may impose, lease or create any tenancy rights on any such property:Provided that, if the lease is given or the tenancy is created with the prior consent of the Bank, the rights of the Bank shall also be enforceable against the purchaser, the lessee or the tenant, as the case may be, as if he himself were a mortgagor.(2)Where land, mortgaged with possession to an [Agriculture and Rural Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.] is in actual possession of tenant, the mortgagor or the [Agriculture and Rural Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.] shall give notice to the tenant to pay rent to the [Agriculture and Rural Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.] during the currency of the lease and the mortgage and on such notice being given, the tenant shall be deemed to have attorned to the [Agriculture and Rural Development Bank] [Substituted for the words 'Land Development Bank' vide Act No. 16 of 1987 w.e.f. 16-11-1987.].
