- Nothing contained in this Act shall apply to -(1)Any transfer of land as security for any loan granted by such banking company, non-banking financial institutions, co-operative society or other credit institutions recognized by Reserve Bank of India from time to time.Provided that a banking company, non-banking financial institution, co-operative society or other credit institutions as notified above by the Government shall not transfer any such land to a person who is non-tribal or non-domicile tribal except with the previous sanction of the competent authority as provided in section 98;(2)letting out on rent of any building standing on land;(3)any transfer of land to or in favour of the Government;(4)any transfer of land to, or in favour of -(a)any company, corporation, society (including co-operative society), autonomous body or association, wholly or substantially owned and controlled or managed by the Government and which the Government may, by notification, specify in this behalf;(b)a Municipal Corporation or municipality constituted under any law.(c)any person or member of a Gorkha community domiciled in the State of Mizoram as described in Section 2(16).
