Banking Policy - Bare Acts

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,.....

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Banking Regulation Act, 1949, (Maharashtra) Section 21

Title: Power of Reserve Bank to Control Advances by Banking Companies

State: Maharashtra

Year: 1949

.....and the Reserve Bank and the Bank is bound by the statutory or executive instructions. Within the meaning of Art, 12 of the Consitution. a nationalised bank.is an "other authority". Therefore, a "State' is amenable to the writ jurisdiction of the High Court under Art. 226. The High Court can direct a Nationalised Bank to follow guidelines of the R.B.I, under Nursing Programme in relation to sick unit. Venkateswara Rice and Flour Mill v. Union Bank of India (1988) 63 Comp. Cases 483 (AP). _______________________ 1. Inserted by Act 55 of 1963, section 13 (w.e.f. 1-2-1964). 2. Inserted by Act 58 of 1968, section 6 (w.e.f. 1-2-1969). 3. Substituted by Act 55 of 1963, section 13, or certain words (w.e.f. 1.2.1964). 4. Substituted by Act 23 of 1965, section 14 w.e.f. 1.3.1966.

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State Bank of India Act, 1955 Amending Act 1

Title: Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006

State: Central

Year: 1955

.....Act, 1959, the Deposit Insurance and Credit Guarantee Corporation Act, 1961, the Export-Import Bank of India Act, 1981 and the National Housing Bank Act, 1987. BE it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:-- CHAPTER I PRELIMINARY 1. Short title and Commencement.-- (1) This Act may be called the Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006. (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 appointed for different provisions of this Act and any reference in 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 BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970 2. Amendment of section 3.-- In section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(5 of 1970) (hereafter in this Chapter referred to as the Bank Nationalisation Act),-- (a) in sub-section (2B), for clause (c), the following shall.....

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Export-import Bank of India Act, 1981 Amending Act 1

Title: Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006

State: Central

Year: 1981

.....Act, 1959, the Deposit Insurance and Credit Guarantee Corporation Act, 1961, the Export-Import Bank of India Act, 1981 and the National Housing Bank Act, 1987. BE it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:-- CHAPTER I PRELIMINARY 1. Short title and Commencement.-- (1) This Act may be called the Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006. (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 appointed for different provisions of this Act and any reference in 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 BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970 2. Amendment of section 3.-- In section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(5 of 1970) (hereafter in this Chapter referred to as the Bank Nationalisation Act),-- (a) in sub-section (2B), for clause (c), the following shall.....

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Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 Chapter 4

Title: Management of Corresponding New Banks

State: Central

Year: 1970

.....of clause (i), not more than six Directors to be nominated by the Central Government; 12 [(i) where the capital issued under clause (c) of sub-section (2B) of section 3 is -- (I) not more than sixteen per cent. of the total paid-up capital, one director; (II) more than sixteen per cent. but not more than thirty-two per cent. of the total paid-up capital, two directors; (III) more than thirty-two per cent. of the total paid-up capital, three directors, to be elected by the shareholders, other than the Central Government, from amongst themselves: Provided that on the assumption of charge after election of any such director under this clause, equal number of directors nominated under clause (h) shall retire in such manner as may be specified in the scheme: Provided further that in case the number of directors elected, on or before the commencement of the Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006, in a corresponding new bank exceed the number of directors specified in sub-clause (I) or sub-clause (II) or sub-clause (III), as the case may be, such excess number of directors elected before such.....

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Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 Amending Act 1

Title: Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006

State: Central

Year: 1970

.....Act, 1959, the Deposit Insurance and Credit Guarantee Corporation Act, 1961, the Export-Import Bank of India Act, 1981 and the National Housing Bank Act, 1987. BE it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:-- CHAPTER I PRELIMINARY 1. Short title and Commencement.-- (1) This Act may be called the Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006. (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 appointed for different provisions of this Act and any reference in 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 BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970 2. Amendment of section 3.-- In section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(5 of 1970) (hereafter in this Chapter referred to as the Bank Nationalisation Act),-- (a) in sub-section (2B), for clause (c), the following shall.....

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

Title: Management of Corresponding New Banks

State: Central

Year: 1980

.....so appointed shallreceive such emoluments as the Central Government may specify in this behalf. Explanation. -In this sub-section and in sub-section (1) ofsection 12 the expression "Chairman", in relation to any existingbank, includes the person carrying out the duties of the Chairman or otherwisefunctioning as the chief executive officer of that bank. (6) Custodian shall holdoffice during the pleasure of the Central Government. Section 8 - Corresponding new banks to be guided by the directions of the Central Government Every corresponding new bank shall, in the discharge of its functions, be guided by such directions in regard to matters of policy involving public interest as the Central Government may, after consultation with the Governor of the Reserve Bank, give. Section 9 - Power of Central Government to make scheme (1) The Central Government may, after consultation with the Reserve Bank, make a scheme for carrying out the provisions of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, the said scheme may provide for all or any of the following matters, namely:- (a) the capital structure of the.....

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Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 Amending Act 1

Title: Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006

State: Central

Year: 1980

.....Act, 1959, the Deposit Insurance and Credit Guarantee Corporation Act, 1961, the Export-Import Bank of India Act, 1981 and the National Housing Bank Act, 1987. BE it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:-- CHAPTER I PRELIMINARY 1. Short title and Commencement.-- (1) This Act may be called the Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006. (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 appointed for different provisions of this Act and any reference in 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 BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970 2. Amendment of section 3.-- In section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(5 of 1970) (hereafter in this Chapter referred to as the Bank Nationalisation Act),-- (a) in sub-section (2B), for clause (c), the following shall.....

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National Housing Bank Act, 1987 Amending Act 1

Title: Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006

State: Central

Year: 1987

.....Act, 1959, the Deposit Insurance and Credit Guarantee Corporation Act, 1961, the Export-Import Bank of India Act, 1981 and the National Housing Bank Act, 1987. BE it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:-- CHAPTER I PRELIMINARY 1. Short title and Commencement.-- (1) This Act may be called the Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006. (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 appointed for different provisions of this Act and any reference in 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 BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970 2. Amendment of section 3.-- In section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(5 of 1970) (hereafter in this Chapter referred to as the Bank Nationalisation Act),-- (a) in sub-section (2B), for clause (c), the following shall.....

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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.....

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