THE ASSAM RECOVERY OF LOANS (AMENDMENT) ACT, 1977

{
    "id": 3283,
    "slug": "assam-recovery-of-loans-amendment-act-1977",
    "title": "THE ASSAM RECOVERY OF LOANS (AMENDMENT) ACT, 1977",
    "short_title": "The Assam Recovery of Loans (Amendment) Act, 1977",
    "act_number": "IV of 1977",
    "act_year": 1977,
    "act_type": "STATE",
    "location": "Assam",
    "law_status": "valid",
    "enactment_date": "1977-04-25",
    "description": "The Assam Recovery of Loans (Amendment) Act, 1977",
    "preamble": "",
    "section_label": "Section",
    "sections": [
        {
            "number": "1",
            "title": "Preamble",
            "chapter": null,
            "content": "Whereas it is expedient to amend the Assam Recovery of Loans Act, 1976, hereinafter called the principal Act, in the manner hereinafter appearing;\nIt is hereby enacted in the Twenty-eighth Year of the Republic of India as follows :-",
            "footnote": "",
            "is_definition": false,
            "sort_order": 0
        },
        {
            "number": "1",
            "title": "1. Short title, extent and commencement",
            "chapter": null,
            "content": "(1) This Act may be called the Assam Recovery of Loans (Amendment) Act, 1977.\n(2) It shall have like extent as the principal Act.\n(3) It shall come into force at once.",
            "footnote": "",
            "is_definition": false,
            "sort_order": 10
        },
        {
            "number": "2",
            "title": "2. Amendment of section 2 of Assam Act XII of 1976",
            "chapter": null,
            "content": "In the principal Act, in section 2, in clause (b)--\r\n(a) for the items (i) to (iv), the following shall be substituted, namely: --\r\n\"(i) a banking company as defined in the Banking Regulation Act, 1949 (10 of 1949);\r\n(ii) the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955);\r\n(iii) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959);\r\n(iv) a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970);\r\n(v) a Regional Rural Bank constituted under the Regional Rural Banks Act, 1970 (21 of 1976);\r\n(vi) any banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949);\r\n(vii) the Agricultural Refinance and Development Corporation constituted under the Agricultural Refinance and Development Corporation Act, 1963 (10 of 1963)\";\r\n(b) item (v) shall be renumbered as item (viii).",
            "footnote": "",
            "is_definition": false,
            "sort_order": 20
        }
    ],
    "metadata": {
        "Act ID": "197704",
        "Act Number": "IV of 1977",
        "Enactment Date": "1977-04-25",
        "Act Year": "1977",
        "Short Title": "The Assam Recovery of Loans (Amendment) Act, 1977",
        "Department": "Legislative Department",
        "Type": "STATE",
        "Location": "Assam"
    },
    "updated_at": "2026-09-29 21:52:17"
}