Kohima, Feb 13 (UNI) Nagaland Chief Minister Neiphiu Rio today clarified various issues relating to the SARFAESI Act 2002, which cannot be implemented in Nagaland in its present from since it comes in direct conflict with the land holding systems and restrictions on transfer of land as in Article 371A – Special provisions on transfer of land and its resources, the Nagaland Land & Revenue Regulation (Amendment) Act 1978, Land & Revenue Regulation (Amendment) Act 2002.
Addressing the 5th Session of the 13th Nagaland Legislative Assembly today Rio said that the Justice & Law Department on 19th July 2019 to Finance Department clearly stated that SARFAESI Act 2002 cannot be enforced in the State of Nagaland as the provisions are conflicting with all existing protective laws (Article 371A/ BEFR 1873 and the Nagaland Land & Revenue Regulation (Amendment) Act 1978). Rio stated that on 18th October 2019 the Cabinet examined the SARFAESI Act 2002 and decided that the Act can be adopted in the State of Nagaland only after it is ensured that transfer of property attached by banks is made to indigenous inhabitants of the State. Being a Central Act, the requisite amendment has to be carried out by the Central Government, therefore he said, the State Finance Department on 22nd November 2019 requested the Department of Financial Services of the Government of India to modify the Act to restrict the transfer of property to indigenous inhabitants of Nagaland for which reply is still awaited.
Comments are closed.