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[Cites 0, Cited by 0] [Section 24(5)] [Section 24] [Entire Act]

State of Gujarat - Subsection

Section 24(5)(b) in The Gujarat Agricultural Lands Ceiling Act, 1960

(b)[ If the total amount of such encumbrances exceeds the compensation payable in respect of the land, the amount of compensation shall be distributed. Pro-rata first amongst the following holders of encumbrances irrespective of the dates on which such encumbrances were created, namely.- [This clause was substituted for the original by Gujarat 2 of 1974, Section 21.]
(i)co-operative societies registered or deemed to have been registered under the Gujarat Co-operative Societies Act, 1961 (Gujarat X of 1962);
(ii)land development banks;
(iii)the State Bank of India constituted under the State Bank of India Act, 1955 (Act 23 of 1955) or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959;
(iv)banks specified in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Act 5 of 1970).