- The mortgages executed in favour of, and all other assets transferred to a [Primary Land Development Bank] [These words were substituted for the words 'Primary Land Mortgage Bank' by Gujarat 24 of 1964] by the members thereof shall, with effect from the date of such execution or transfer, be deemed to have been transferred by it to the [State Land Development Bank] [These words were substituted for the words 'State Land Mortgage Bank' by Gujarat 24 of 1964] and shall vest in the [State Land Development Bank] [These words were substituted for the words 'State Land Mortgage Bank' by Gujarat 24 of 1964].