Bare Act Search Results

Agricultural Credit Pass Book Act, 1984 Chapter 2

Title: Issue of Pass Books and Matters Relating Thereto

State: Karnataka

Year: 1984

.....in favour of a co-operative society before the commencement of this Act, it shall be lawful for an agriculturist to create, after such commencement a subsequent charge on such land or interest therein or crops standing thereon in favour of a bank, as security, for any financial assistance given to the agriculturist by the bank. Section 8 - Priority of charges No charge or mortgage created on any land or interest or crops standing thereon after the commencement of this Act, in favour of Government or a co-operative society shall have priority over a charge or mortgage on such land or interest created by an agriculturist in favour of a bank as security for financial assistance given to the agriculturist by the Bank after the commencement of this Act and prior to the charge or mortgage in favour of Government or the co-operative society.

Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 Complete Act

State: Central

Year: 1980

.....by him in this behalf realise any asset and discharge any liability of the existing bank. (4) Unless otherwise expressly provided by this Act, all contracts, deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of whatever nature subsisting or having effect immediately before the commencement of this Act and to which the existing bank is a party or which are in favour of the existing bank shall be of full force and effect against or in favour of the corresponding new bank, and may be enforced or acted upon as fully and effectually as if in the place of the existing bank the corresponding new bank had been a party thereto or as if they had been issued in favour of the corresponding new bank. (5) If, immediately before the commencement of this Act, any suit, appeal or other proceeding of whatever nature in relation to any business of the undertaking which has been transferred under section 4-, is pending by or against the existing bank, the same shall not abate, be discontinued or be in any way, prejudicially affected by reason of the transfer of the undertaking of the existing bank or of anything contained in this Act but.....

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,.....

Banking Regulation Act, 1949 Part 2C

Title: Acquisition of the Undertakings of Banking Companies in Certain Cases

State: Central

Year: 1949

.....the shareholders of the acquiredbank, or where the acquired bank is a banking company incorporated outsideIndia, to the acquired bank in full satisfaction of their, or as the case maybe, its claims; (f) the provision, if any, for completing the effectualtransfer to the Central Government or the transferee bank of any asset or anyliability which forms part of the undertaking of the acquired bank in anycountry outside India; (g) such incidental, consequential and supplementalmatters as may be necessary to secure that the transfer of the business,property, assets and liabilities of the acquired bank to the Central Governmentor transferee bank, as the case may be, is effectual and complete. (3) The Central Government may, after consultation withthe Reserve Bank, by notification in the Official Gazette, add to, amend orvary any scheme made under this section. (4) Every scheme made under this section shall bepublished in the Official Gazette. (5) Copies of every scheme made under this section shallbe laid before each House of Parliament as soon as may be after it is made. (6) The provisions of this Part and of any scheme madethere under shall have effect notwithstanding.....

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.....

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.....

Agricultural Credit Pass Book Act, 1984 Section 5

Title: Endorsements on Pass Books

State: Karnataka

Year: 1984

.....of sub-section (1) to the revenue officer and another copy to the Sub-Registrar within the local limits of whose jurisdiction the whole or any part of the property which has been so charged is situate, and on receipt of the copy of such endorsement,- (a) the revenue officer shall make the necessary entries in the Record of Rights maintained by him under the Karnataka Land Revenue Act, 1964 (Karnataka Act 12 of 1964) ; and.6 (b) the Sub-Registrar shall place, or cause to be placed, such endorsement on the copy of the pass book forwarded to him under section 4. (3) The holder of the pass book may also produce the endorsement made by the bank on the pass book before the Sub-Registrar to enable him to satisfy himself as to whether, a copy of the said endorsement has or has not been placed on his records, and in case it has not been so done, to get the said endorsement copies on the pass book which had been forwarded to him under section 4.

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.....

Bankers Books Evidence Act, 1891 Section 6

Title: Inspection of Books by Order of Court or Judge

State: Central

Year: 1891

(1) On the application of any party to a legal proceeding the Court or a Judge may order that such party be at liberty to inspect and take copies of any entries in a banker's book for any of the purposes of such proceeding, or may order the bank to prepare and produce, within a time to be specified in the order, certified copies of all such entries, accompanied by a further certificate that no other entries are to be found in the books of the bank relevant to the matters in issue in such proceeding, and such further certificate shall be dated and subscribed in manner hereinbefore directed in reference lo certified copies. (2) An order under this or the preceding section may be made either with or without summoning the bank and shall be served on the bank three clear days (exclusive of bank holidays) before the same is to be obeyed, unless the Court or judge shall otherwise direct. (3) The bank may at any time before the time limited for obedience to any such order as aforesaid either offer to produce their books at the trial or give notice of their intention to show cause against such order, and thereupon the same shall not be enforced without further order.

Banking Regulation Act, 1949 Section 45F

Title: Documents of Banking Company to Be Evidence

State: Central

Year: 1949

.....the books of account or other documents of the banking company in his possession. (2) Notwithstanding anything to the contrary contained in the Indian Evidence Act, 1872 (1 of 1872), all such entries in the books of account or other documents of a banking company shall, as against the directors, 2[officers and other employees] of the banking company in respect of which the winding up order has been made 3[***], by prima facie evidence of the truth of all matters purporting to be therein recorded. _________________________ 1. Substituted by Act 55 of 1963, Section 22, for "proceedings by or against the banking company" w.e.f. 1-2-1964. 2. Inserted by Act 55 of 1963, Section 22 w.e.f. 1-2-1964. 3. Certain words omitted by Act 55 of 1963, Section 22 w.e.f. 1-2-1964.