Bare Act Search Results

State Bank of India Subsidiary Banks Act, 1959 Chapter VIII

Title: Miscellaneous

State: Central

Year: 1959

.....or gains of the subsidiary bank. ________________________________ 1. Substituted by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) for the words and figures "Indian Income-tax Act, 1922" Section 49 - Special Provision Regarding Existing Officers And Employees (1) Notwithstanding anything contained in any of the other provisions of this Act, or in any other law or in any contractor service or other document, no appointment made or promotion, increment in salary, pension or allowance or any other benefit granted to any person by an existing bank 1[***] after the 10th day of Feb., 1958, and before the appointed day, which would not ordinarily have been made or granted or which would not ordinarily have been admissible under the rules or authorisations of the said banks or of any provident, pension or other fund in force before the 10th day of February, 1958, shall have effect or be payable or claimable from the subsidiary bank concerned, or from any provident, pension or other fund or from any authority administering any such fund, unless the State Bank has, with the approval of the Reserve Bank, by a general or special order,.....

State Bank of India Subsidiary Banks Act, 1959 Section 52

Title: Obligation as to Fidelity Andsecrecy

State: Central

Year: 1959

(1) A subsidiary bank shall observe, except as otherwise required by law, the practices and usages customary among bankers, and in particular, it shall not divulge any information relating to, or to the affairs of its constituents except in circumstances in which it is, in accordance with the law or practice and usage customary among bankers, necessary or appropriate for that bank to divulge such information. (2) Every director, auditor, adviser officer or other employee of a subsidiary bank shall, before entering upon his duties, make a declaration of fidelity and secrecy as in the form set out in the Second Schedule: 1"(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005.". Provided that any declaration made under sub-section (2) of section 35 of the State Bank of Hyderabad Act shall be deemed to be declaration made to the Hyderabad Bank under this sub-section. _____________________________ 1. Inserted vide Credit Information Companies (Regulation) Act, 2005

State Bank of India (Subsidiary Banks) Act, 1959 Complete Act

State: Central

Year: 1959

.....debts, liabilities and obligations of whatever kind, then existing of that bank. (3) Without prejudice to the other provisions contained in 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 appointed day and to which any existing bank is a party, or which are in favour of that bank, shall be of full force and effect against or in favour of the corresponding new bank, as the case may be, and may be enforced or acted upon as fully and effectually as if Instead 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. (4) If on the appointed day, any suit, appeal or other legal proceeding of whatever nature by or against an existing bank is pending, the same shall not abate be discontinued or be in any way prejudicially affected by reason of transfer to the corresponding new bank of the undertaking of the existing bank, or of anything contained in this Act, but the suit, appeal or other proceeding may be continued, prosecuted and enforced by or.....