Bare Act Search Results

Home Bare Acts Phrase: bank

Sign-up to get more results

Unlock complete result pages and premium legal research features.

State Bank of India Subsidiary Banks Act, 1959 Chapter V

Title: Management of Subsidiary Banks

State: Central

Year: 1959

.....things as may be exercised or done by that bank. (3) The Board of Directors of a subsidiary bank shall, in discharging its functions under this Act, act on business principles, regard being had to public interest. ________________________ 1. Substituted fur the words "general manager" by the State Bank Laws (Amendment) Act, 1973(48 of 1973), Section 21 w.e.f. 1-7-1974. Section 25 - Composition Of The Board Of Directors (1) Subject to the provisions of sub-section (2) the Board of Directors of a subsidiary bank shall consist of the following:-- 4[(a) the Chairman for the time being of the State Bank, ex officio or an official of the State Bank or of the subsidiary bank nominated by him as Chairman, with the approval of the Reserve Bank;] 1[(aa) the managing director appointed under sub-section (1) of section 29 or under section 32;] 5(b) one director, possessing necessary expertise and experience in the matters relating to regulation or supervision of commercial banks, to be nominated by the Reserve Bank; (c) not more than five directors to be nominated by the State Bank of whom not more than three shall be officers of that bank: 2Provided that any.....

View Complete Act List Judgments citing this section

State Bank of India Subsidiary Banks Act, 1959 Amending Act 2

Title: The State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007

State: Central

Year: 1959

.....An Act further to amend the State Bank of Saurashtra Act, 1950, the State Bank of Hyderabad Act, 1956 and the State Bank of India (Subsidiary Banks) Act, 1959. be it enacted by Parliament in the Fifty-eighth Year of the Republic of India as follows:-- PART I PRELIMINARY 1. Short title and commencement (1) This Act may be called the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appoi'nted for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. CHAPTER II AMENDMENTS TO THE STATE BANK OF SAURASHTRA ACT, 1950 2. Substitution of new section for section 5 For section 5 of the State Bank of Saurashtra Act, 1950 (hereafter in this Chapter referred to as the State Bank of Saurashtra Act), the following section shall be substituted, namely:-- "5. Authorised Capital - (1) Subject to the provisions of this Act, the authorised capital of the Saurashtra Bank shall.....

View Complete Act List Judgments citing this section

State Bank of India Act, 1955 Amending Act 2

Title: The State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007

State: Central

Year: 1955

View Complete Act List Judgments citing this section

State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Chapter IV

Title: Amendment to the State Bank of India (Subsidiary Banks) Act, 1959

State: Central

Year: 2007

..... Section 25 - Amendment of section 55 In section 55 of the State Bank of India (Subsidiary Banks) Act, for the words "Banking Companies Act", the words "Banking Regulation Act" shall be substituted. Section 26 - Amendment of section 63 In section 63 of the State Bank of India (Subsidiary Banks) Act,-- (a) for sub-section (1), the following sub-section shall be substituted, namely:-- "(1) The Board of Directors of a subsidiary bank may, after consultation with the State Bank and with the previous approval of the Reserve Bank, by notification in the Official Gazette, make regulations not inconsistent with this Act and the rules made thereunder, to provide for all matters for which provision is necessary or expedient for the purpose of giving effect to the provisions of this Act or any other law for the time being in force;"; (b) in sub-section (2),-- (i) after clause (f), the following clauses shall be inserted, namely:-- "(fa) the procedure for issuing the certificates of shares; (fb) the procedure with respect to increase, whether by public issue or by preferencial allotment or private placement, the issued capital by issue of equity or preference.....

View Complete Act List Judgments citing this section

Reserve Bank of India Act, 1934 (2 of 1934) Chapter 3

Title: Central Banking Functions

State: Central

Year: 1934

.....words "Part B" omitted by Act 37 of 1956, section 104 (w.e.f. 1-11-1956). 3. The words "(including the autonomous State of Meghalaya)" Inserted by Act 54 of 1969, section 75 and omitted by Act 81 of 1971, section 72 (w.e.f. 21-1-1972). Section 21B - Effect of agreements made between the Bank and certain States before the 1st November, 1956 1 [21B. Effect of agreements made between the Bank and certain States before the 1st November, 1956 (1) Any agreement made under section 21 or section 21A between the Bank and the Government of a State specified in the Explanation below and in force immediately before the 1st day of November, 1956, shall, as from that day have effect as if it were an agreement made on that day under section 21A between the Bank and the Government of the corresponding State subject to such modifications, if any, being of a character not affecting the general operation of the agreement, as may be agreed upon between the Bank and the Government of the corresponding State, or in default of such agreement, as may be made therein by order of the Central Government. Explanation.-In this sub-section "corresponding State" means,- (a) in relation to the.....

View Complete Act List Judgments citing this section

National Bank for Agriculture and Rural Development Act, 1981 Chapter VI

Title: Credit Functions of the National Bank

State: Central

Year: 1981

.....(Amendment) Act, 2003. 2.Words "to any State Co-operative bank" substituted by National Bankfor Agriculture and Rural Development (Amendment) Act, 2003. Section 22 - Conversion loan for production credit 1[22. Conversion loan for production credit. -- Where the National Bank is satisfied that owing to drought, famine or other natural calamities, military operations or enemy action, any State co-operative bank, central co-operative bank, regional rural bank or any such financial institution or any financial institution falling under any such class of financial institutions, as may be approved by the Reserve Bank in this behalf, requires assistance under this section, it may provide to such bank or institution such financial assistance as it may deem fit by way of making loans and advances repayable on the expiry of fixed periods not exceeding seven years and on such terms and conditions as may be specified in this behalf by the National Bank: Provided that loans and advances may be made under this section only for the purpose of enabling the borrowing bank or institution,-- (a) to pay any dues to the National Bank for credit extended for financing agricultural.....

View Complete Act List Judgments citing this section

Banking Regulation Act, 1949 Part 2

Title: Business of Banking Companies

State: Central

Year: 1949

.....of guarantee and indemnity business; (f) managing, selling andrealising any property which may come into the possession of the company insatisfaction or part satisfaction of any of its claims; (g) acquiring and holding andgenerally dealing with any property or any right, title or interest in any suchproperty which may form the security or part of the security for any loans or advancesor which may be connected with any such security; (h) undertaking and executingtrusts; (i) undertaking theadministration of estates as executor, trustee or otherwise; (j) establishing and supportingor aiding in the establishment and support of associations, institutions,funds, trusts and conveniences calculated to benefit employees or ex-employeesof the company or the dependents or connections of such persons; grantingpensions and allowances and making payments towards insurance; subscribing toor guaranteeing moneys for charitable or benevolent objects or for anyexhibition or for any public, general or useful object; (k) the acquisition,construction, maintenance and alteration of any building or works necessary orconvenient for the purposes of the company; (l) selling,.....

View Complete Act List Judgments citing this section

Banking Regulation Act, 1949 Part 3

Title: Suspension of Business and Winding Up of Banking Companies

State: Central

Year: 1949

.....sections. 4 and 7; Act 23 of 1955, Section 53 and Schedule IV; Act 79 of 1956, Section 43 and Schedule II; Act 95 of 1956, Section 14 and Schedule; Act 33 of 1959, Section 27 and Act 37 of 1960, Section 2. to read as above. 2. Section 39 renumbered as sub-section (1) of that section by Act 58 of 1968, Section 16 w.e.f. 1-2-1969. 3. Inserted by Act 58 of 1969, Section 16 with retrospective effect. Section 39A - Application of Companies Act to liquidators 1[39A. Application of Companies Act to liquidators.- (1) All the provisions of the Companies Act, 1956 (1 of 1956), relating to a liquidator, in so far as they are not inconsistent with this Act, shall apply to or in relation to a liquidator appointed under section 38A or section 39. (2) Any reference to the "official liquidator" in this Part and Part IIIA shall be construed as including a reference to any liquidator of a banking company. ] ______________________ 1. Inserted by 33 of 1959, Section 28 w.e.f. 1-10-1959. Section 40 - Stay of proceedings Notwithstanding anything to the contrary contained in 1[section 466 of the Companies Act, 1956 (1 of 1956)], the 2[High Court] shall not make any order staying.....

View Complete Act List Judgments citing this section

Banking Regulation Act, 1949 Part 5

Title: Application of the Act to Co-operative Banks

State: Central

Year: 1949

.....for the purposes of this section and section 24, specify from time totime, with reference to any transaction or class of transactions, that suchtransaction or transactions shall be regarded as liability in India of aco-operative bank, and, if any question arises to whether any transaction orclass of transactions shall be regarded for the purposes of this section andsection24, as liability in India of a co-operative bank, the decision of theReserve Bank thereon, shall be final."]; (k) for section 19,the following section shall be substituted, namely:- "19. Restriction on holding shares in otherco-operative societies. -No co-operative bank shall hold shares in any otherco-operative society except to such extent and subject to such conditions asthe Reserve Bank may specify in that behalf: Provided that nothing contained in this section shall applyto- (i) shares acquiredthrough funds provided by the State Government for that purpose; (ii) in the case ofa Central co-operative bank, the holding of shares in the State co-operativebank to which it is affiliated; (iii) in the case ofa primary co-operative bank, the holding of shares in the Central co-perativebank to which it.....

View Complete Act List Judgments citing this section

State Bank of India Subsidiary Banks Act, 1959 Chapter VI

Title: Business of Subsidiary Banks

State: Central

Year: 1959

.....carrying on the business of banking. _____________________________ 1. Substituted by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) for the words and figures "Banking Companies Act, 1949" Section 38A - Arrangement With Subsidiary Banks On Appointment Of Directors To Prevail 1[38A. Arrangement With Subsidiary Banks On Appointment Of Directors To Prevail (1) Where any arrangement entered into by a subsidiary bank with a company provides for the appointment by the subsidiary bank of one or more Directors of such company, such provision and any appointment of Directors made in pursuance thereof shall be valid and effective notwithstanding anything to the contrary contained in the Companies Act, 1956, or in any other law for the time being in force or in the memorandum, articles of association or any other instrument relating to the company and any provision regarding share qualification, age limit number of directorships, removal from office of Directors and such like conditions contained in any such law or instrument aforesaid, shall not apply to any Director appointed by the subsidiary bank in pursuance of the arrangement as.....

View Complete Act List Judgments citing this section

<< Prev.
1
2
3
4
5
6
7
8
9
10
11
Next >>
Last >>

Sign-up to get more results

Unlock complete result pages and premium legal research features.

Start Free Trial