Section 8B in The West Bengal Restoration of Alienated Land Act, 1973
8B. [ Restriction on transfer.] [Sections 8A and 8B inserted by W.B. Act 20 of 1976.] - Notwithstanding anything contained in any law for the time being in force or in any contract, express or implied, or in any custom or usage, to the contrary, every transferor who obtains restoration of his land in pursuance of an order made under this Act, shall be debarred from alienating such land for a period of twelve years, except by way of a simple mortgage or a mortgage by deposit of title-deed in favour of a bank or a co-operative society or a local or statutory authority or the Life Insurance Corporation of India.
Explanation. - For the purposes of this section "bank" means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 and includes the Stale 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 clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 and also includes any other financial institution which may be notified in this behalf by the State Government.
