Bare ActsThe Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

Section 18

Dissolution

Amendment status not verified — confirm the current text below against the official source.

No provision of law relating to winding up of corporations shall apply to a corresponding new bank and no corresponding new bank shall be placed in liquidation save by order of the Central Government and in such manner as it may direct.

Section 18 – The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 | DailyLaw.ai