40. Exchange. –
(1) Subject to the provisions of section 33, Bhumidhar may exchange lands held by him as such –
(a) For lands held by any other Bhumidhar as such or
(b) For lands for the time being vested in a Gaon Sabha or local authority or in Government:
Provided that no such exchange shall be made except with permission of the Deputy Commissioner, who will refuse permission if the difference between the area of the land given in exchange and of land received in exchange in terms of standard acres is more than ten per cent. Of the area in standard acres of the land which is smaller in area.
(2) Where the Deputy Commissioner permits exchange , he shall also order the relevant annual register to be corrected accordingly.
(3) On exchange made in accordance with the sub section (1), the parties to such exchange shall have the same rights in the land received in exchange as they had in the land given in exchange.