Act Info:
1[15. Trusts not to be entered on the register of shareholders
No notice of any trust, express, implied or constructive, shall be entered on the register of shareholders or be receivable by the State Bank.]
2[Provided that nothing in this section shall apply to a depository in respect of shares held by it as a registered owner on behalf of the beneficial owners.]
Explanation.--For the purposes of Section 13, Section 13-A and this section, the expressions "beneficial owner", "depository" and "registered owner" shall have the meanings respectively assigned to them in Cls. (a), (e) and (j) of sub-section (1) of Section 2 of the Depositories Act, 1996 (22 of 1996).]
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1. Substituted by Act No. 3 of 1994, Section 7.
2. Inserted by Act No. 8 of 1997 Section 5 (w.e.f. 15th January, 1997).