Gujarat Co-operative Societies Act, 1961
This Chapter shall apply to Land Development Banks advancing loans, other than short terms loans, for the purposes herein enumerated that is to any— (i) improvement and development of agriculture and productive purposes; (ii) the erection, rebuilding or repairing of house for agricultural purposes; (iii) the purchase or acquisition of title to agricultural lands by tenant purchasers or tenants under the Bombay tenancy and Agricultural Lands Act, 1948, or any corresponding law for the time being in force in any part of the State; (iv) the liquidation of debt under the Bombay Agricultural Debtors Relief Act, 1947, or any corresponding law for the time being in force in any part of the State; (v) the purchase of agricultural lands by agriculturists whose agricultural lands have been acquired for any public purpose under the Land Acquisition Act, 1894 or any other law for the time being in force; (vi) promoting the development of animal husbandry, dairy farming, poultry farming, pisciculture or fishery; or (vii) purchase of shares in a co-operative society engaged in the manufacture of sugar. Explanation 1.—For the purposes of this section a short term loan means a loan for a duration of less than 18 months. Explanation 2.—[Productive purposes] means any work, construction or activity which adds to the productivity of the land and, in particular, includes the following, that is to say— (a) construction and repair of wells (including tube wells), thanks and other for the storage, supply or distribution of water for the purpose of agriculture, or for the use of men and cattle employed in agriculture;