47. [Revenue payable by Co-operative Farming Society. [Effect from 17.1.1977, vide Notification No. 158L Ref/2A-26/76, dated 14.1.1977.]
When a Co-operative Farming Society is established under the provisions of this Act, the aggregate of the revenues which would have been payable by its members for their lands, if such lands had not been vested in the society shall be the revenue payable by the society for the lands vesting in it, subject to such reduction as may be allowed under section 48.]
