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Home Bare Acts Phrase: preferred share Page 1 of about 5,964 results (0.013 seconds)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
.....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 sectionState 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 sectionState 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 sectionThe State Bank of India (Amendment) Act, 2010 No. 27 of 2010[24th August, 2010.] Complete Act
Title: The State Bank of India (Amendment) Act, 2010 No. 27 of 2010[24th August, 2010.]
State: Central
Year: 2010
An Act further to amend the State Bank of India Act, 1955.BE it enacted by Parliament in the Sixty-first Year of the Republic of India as follows:- 1. Short title and commencement. - (1) This Act may be called the State Bank of India (Amendment) Act, 2010.(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 any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. 2. Amendment of section 2. - In section 2 of the State Bank of India Act, 1955 (hereinafter referred to as the principal Act), clause (i) shall be omitted. 3. Substitution of new section for section 4. - For section 4 of the principal Act, the following section shall be substituted, namely:-"4. Authorised capital. - Subject to the provisions of this Act, the authorised capital of the State Bank shall be five thousand crores of rupees divided into five hundred crores of fully paid-up shares of ten rupees each:Provided that the Central Board may reduce the nominal or face value of.....
List Judgments citing this sectionState Bank of India Subsidiary Banks Act, 1959 Section 7
Title: Issued Capital of New Banks
State: Central
Year: 1959
.....A new bank may accept the money in respect of shares issued towards increase in issued capital in instalments, make calls and forfeit unpaid shares and re-issue them, in the manner as may be prescribed.] ____________________________ 1. Inserted by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007). 2. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "(4) Without prejudice to the provision contained in sub-section (3) a new bank may, with the approval of the State Bank and the Reserve Bank, increase from time to time, its issued capital and the capital so increased shall consist of fully paid-up shares to be issued in such manner as the State Bank may, with the approval of the Reserve Bank, direct. (5) No increase or reduction in the issued capital of a new bank shall be made in such a manner that the State Bank holds at any time less than fifty-five per cent of the issued capital of that bank"
View Complete Act List Judgments citing this sectionState Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Chapter II
Title: Amendments to the State Bank of Saurashtra Act, 1950
State: Central
Year: 2007
.....may, with the approval of the Reserve Bank, authorise the Saurashtra Bank to increase or reduce its authorised capital.". Section 3 - Amendment of section 6 In section 6 of the State Bank of Saurashtra Act,-- (a) after sub-section (1), the following sub-section shall be inserted, namely:-- "(1A) Notwithstanding anything contained in sub-section (1), the issued capital of the Saurashtra Bank, shall consist of such amount as the State Bank may, with the approval of the Reserve Bank, fix, and, shall be divided into fully paid-up shares of such denomination in accordance with sub-section (2) of section 5."; (b) for sub-section (3), the following sub-sections shall be substituted, namely:-- "(3) The Saurashtra Bank may, from time to time, with the approval of the State Bank and the Reserve Bank, increase, whether by public issue or by preferential allotment or private placement in accordance with the procedure as may be specified by regulations made under section 63 of the State Bank of India (Subsidiary Banks) Act, 1959(38 of 1959), its issued capital by issue of equity or preference shares. (3A) The issued capital of the Saurashtra Bank shall consist of equity shares.....
View Complete Act List Judgments citing this sectionState Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Chapter III
Title: Amendmentsto the State Bank of Hyderabad Act, 1956
State: Central
Year: 2007
.....Bank may, with the approval of the Reserve Bank, fix, and shall be divided into fully paid-up shares of such denomination in accordance with sub-section (2) of section 9."; (b) for sub-section (3), the following sub-sections shall be substituted, namely:-- "(3) The Hyderabad Bank may, from time to time, with the approval of the State Bank and the Reserve Bank, increase, whether by public issue or by preferential allotment or private placement in accordance with the procedure as may be specified by regulations made under section 63 of the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), its issued capital by issue of equity or preference shares. (3A) The issued capital of the Hyderabad Bank shall consist of equity shares or equity and preference shares: Provided that the issue of preference shares shall be in accordance with the guidelines framed by the Reserve Bank specifying the class of preference shares, the extent of issue of each class of such preference shares (whether perpetual or irredeemable or redeemable) and the terms and conditions subject to which, each class of preference shares may be issued. (3B) The Hyderabad Bank may, with the.....
View Complete Act List Judgments citing this sectionState Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Section 3
Title: Amendment of Section 6
State: Central
Year: 2007
.....Bank may, with the approval of the Reserve Bank, fix, and, shall be divided into fully paid-up shares of such denomination in accordance with sub-section (2) of section 5."; (b) for sub-section (3), the following sub-sections shall be substituted, namely:-- "(3) The Saurashtra Bank may, from time to time, with the approval of the State Bank and the Reserve Bank, increase, whether by public issue or by preferential allotment or private placement in accordance with the procedure as may be specified by regulations made under section 63 of the State Bank of India (Subsidiary Banks) Act, 1959(38 of 1959), its issued capital by issue of equity or preference shares. (3A) The issued capital of the Saurashtra Bank shall consist of equity shares or equity and preference shares: Provided that the issue of preference shares shall be in accordance with the guidelines framed by the Reserve Bank specifying the class of preference shares, the extent of issue of each class of such preference shares (whether perpetual or irredeemable or redeemable) and the terms and conditions subject to which, each class of preference shares may be issued. (3B) The Saurashtra Bank may, with the.....
View Complete Act List Judgments citing this sectionState Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Section 5
Title: Amendment of Section 10
State: Central
Year: 2007
.....Bank may, with the approval of the Reserve Bank, fix, and shall be divided into fully paid-up shares of such denomination in accordance with sub-section (2) of section 9."; (b) for sub-section (3), the following sub-sections shall be substituted, namely:-- "(3) The Hyderabad Bank may, from time to time, with the approval of the State Bank and the Reserve Bank, increase, whether by public issue or by preferential allotment or private placement in accordance with the procedure as may be specified by regulations made under section 63 of the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), its issued capital by issue of equity or preference shares. (3A) The issued capital of the Hyderabad Bank shall consist of equity shares or equity and preference shares: Provided that the issue of preference shares shall be in accordance with the guidelines framed by the Reserve Bank specifying the class of preference shares, the extent of issue of each class of such preference shares (whether perpetual or irredeemable or redeemable) and the terms and conditions subject to which, each class of preference shares may be issued. (3B) The Hyderabad Bank may, with the.....
View Complete Act List Judgments citing this sectionState Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 Section 7
Title: Amendment of Section 7
State: Central
Year: 2007
.....Bank may, with the approval of the Reserve Bank, fix, and shall be divided into fully paid-up shares of such denomination in accordance with sub-section (2) of section 6."; (b) for sub-sections (4) and (5), the following sub-sections shall be substituted, namely:-- "(4) A new bank may from time to time, with the approval of the State Bank and the Reserve Bank, increase, whether by public issue or by preferential allotment or private placement in accordance with the procedure as may be prescribed, its issued capital by issue of equity or preference shares. (5) The issued capital of a new bank shall consist of equity shares or equity and preference shares: Provided that the issue of preference shares shall be in accordance with the guidelines framed by the Reserve Bank specifying the class of preference shares, the extent of issue of each class of such preference shares (whether perpetual or irredeemable or redeemable) and the terms and conditions subject to which, each class of preference shares may be issued. (6) A new bank may, with the approval of the State Bank and the Reserve Bank, increase from time to time by way of issuing bonus shares to existing equity.....
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