REGISTERED No. D. 321 रजिजी सं ० डी ० 221
भारतको राजपत्र The Gazette ofJudia
EXTRAORDINARY
भाग II-खण्ड 2
PART II- Section 2
प्राधिकार में प्रकাহিাস
PUBLISHED BY AUTHORITY
सं० 48] नई दिल्ली, सोमवार, नवम्बर 16 , 1970/कार्तिक 25 , 1892 No. 48 ) NEW DELHI MONDAY , NOVEMBER 16 , 1970 / KARTIKA 25 , 1892
इस भाग में भिन्न पृष्ठ सम्या दा जाती है जिसमे कि यह झलग सकलनक रूप में रखा जा सके
Separate paging is given to this Part in order that it may be filed a a separate compilation.
RAJYA SABHA
No. R.S. 1/37/70-B . The following Bill was introduced in the Rajya Sabha on the 16th November , 1970 : -
Bill No. XXXVI of 1970
A Bill further to amend the Agricultural Refinance Corporation Act, 1963 .
BE it enacted by Parliament in the Twenty- first Year of the Republic of India as follows:-
Short title.
1. This Act may be called the Agricultural Refinance Corporation (Amendment) Act , 1970 .
10 of 1963 .
Amend- ment of section 2.
2. In section 2 of the Agricultural Refinance Corporation Act , 1963 (hereinafter referred to as the principal Act ) , after clause ( a ) , the following Explanation shall be inserted and shall be deemed always to have been inserted , namely:-
'Explanation . For the purposes of this clause , " pisciculture" includes the development of fisheries , both inland and marine , catch- ing of fish and all activities connected therewith or incidental thereto;' .
3. In section 20 of the principal Act,-
Amend- ment of section 20.
(i) in sub -section ( 1 ) , after clause ( b ) , the following clause shall be inserted, namely:-
2. of 1984.
"(bb) borrow money from the Reserve Bank out of the National Agricultural Credit (Long Term Operations ) Fund established under section 46A of the Reserve Bank of India Act. 1934.";
( 953 )
THE GAZETTE OF INDIA EXTRAORDINARY
954
[PART II
(ii) in sub - section ( 2 ) , for the words , brackets and letters and outstanding under clauses ( b ) and ( c) of that sub - section " , the words , brackets and letters " and outstanding under clauses ( b ) , ( bb ) and (c) of that sub - section " shall be substituted .
2 of1934.
4. In section 46A of the Reserve Bank of India Act, 1934, in sub -section ( 2) , after olause ( d) and before the Explanation , the following clause shall be inserted , namely: -
Conse- quential amend- ment of Act2 of 1934 .
" ( e) the making to the Agricultural Refinance Corporation of loans and advances repayable on the expiry of fixed periods not ex- ceeding twenty years from the date of making such loan or advance ." .
SEC . 2 ]
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955
STATEMENT OF OBJECTS AND REASONS
The Bill seeks to amend the Agricultural Refinance Corporation Act , 1963 and the Reserve Bank of India Act , 1934 to enable the Agricultural Refinance Corporation to borrow from the National Agricultural Credit (Long Term Operations ) Fund maintained by the Reserve Bank of India . With the growing tempo of its activities the Agricultural Refinance Corporation is called upon to meet increasingly larger demands for funds . The proposed amendment will give the Corporation access to larger resources which it needs to meet these demands .
Opportunity is also being taken to introduce a suitable Explanation. of the term " pisciculture" so as to clarify that the Agricultural Refinance Corporation may refinance schemes relating to marine fisheries .
Y. B. CHAVAN .
NEW DELHI ;
The 29th September , 1970 .
B. N. BANERJEE ,
Secretary.
PRINTED BY THE GENERAL MANAGER , GOVERNMENT OF INDIA PRESS , MINTO ROAD , NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS , DELHI , 1970