Section 4. Amendment of section 24, Rajasthan Act No. XVI of 1954

The existing section 24 of the principal Act shall be numbered as sub-section (1) thereof and after sub-section (1) as so renumbered, the following new sub-section shall be inserted, namely :- "(2) Notwithstanding anything contained in sub-section (1) or in any law for the time being in force, it shall be lawful for a Bhoodan holder to mortgage his interest in the whole or part of the land allotted to him under this Act in favour of the State Government or a Land Development Bank as defined in the Rajasthan Co-operative Societies Act, 1965 (Rajasthan Act 13 of 1965) or a cooperative society registered or deemed to be registered as such under the said Act or any Scheduled Bank or any other institution notified by the State Government in that behalf for all or any of the purposes specified in section 84 of that Act."