The Meghalaya Credit Operation and Miscellaneous Provisions Act, 1976 (Act 10 of 1976)
Section 12. Exemption to banks from restrictions on acquisition of land in excess of ceiling.
Nothing in any law for the time being in force pacing a ceiling or limit on the holding of land shall apply to a bank acquiring land in terms of section 11 and holding such land till such time, the bank is in a position to sell the land in the manner provided in section11 or otherwise, at a price which is adequate to cover its dues.
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