Preamble1 - BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970
Chapter 1 Section1 - Short title and commencement
Section2 - Definitions
Chapter2 - TRANSFER OF THE UNDERTAKINGS OF EXISTING BANKS AND SHARE CAPITALS OF THE CORRESPONDING NEW BANKS
Section3 - Establishment of corresponding new banks and business thereof
Section3A - Trust not to be entered in the register
Section3B - Register of beneficial owner
Section4 - Undertaking of existing banks to vest in corresponding new banks
Section5 - General affect of vesting
Chapter 3 Section6 - Payment of compensation
Chapter 4 Section7 - Head office and management
Section8 - Corresponding new banks to be guided by the directions of the Central Government
Section9 - Power to Central Government to make scheme
Section9A - Power of Reserve Bank to appoint additional director
Chapter 5 Section10 - Closure of accounts and disposal of profits
Section10A - Annual general meeting
Section10B - Transfer of unpaid or unclaimed dividend to Unpaid Dividend Account
Section11 - Corresponding new bank deemed to be an Indian company
Section12 - Removal of Chairman from office
Section12A - Bonus
Section13 - Obligations as to fidelity and secrecy
Section14 - Custodian to be public servant
Section15 - Certain defects not to invalidate acts or proceedings
Section16 - Indemnity
Section16A - Arrangement with corresponding new bank on appointment of Directors to prevail
Section17 - References to existing banks on and from the commencement of this Act
Section18 - Dissolution
Section18A - Supersession of Board in certain cases
Section19 - Power to make regulations
Section20 - Amendment of certain enactments
Section21 - Repeal and saving
ScheduleI - FIRST SCHEDULE
ScheduleII - SECOND SCHEDULE
ScheduleIII - THIRD SCHEDULE
Amending Act1 - BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) AND FINANCIAL INSTITUTIONS LAWS (AMENDMENT) ACT, 2006