The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980
Central · 1980
- S. 1Short title and commence.
- S. 2Definitions.
- S. 3Establishment of corresponding new banks and business thereof.
- S. 3ATrust not to be entered on the register.
- S. 3BRegister of beneficial owners.
- S. 4Undertakings of existing banks to vest in corresponding new banks.
- S. 5General effect of vesting.
- S. 6Payment of amount.
- S. 7Head office and management.
- S. 8Corresponding new banks to be guided by the directions of the Central Government.
- S. 9Power of Central Government to make scheme.
- S. 9APower of Reserve Bank to appoint additional director.
- S. 10Closure of accounts and disposal of profits.
- S. 10AAnnual general meeting.
- S. 10BTransfer of unpaid or unclaimed money.
- S. 11Corresponding new bank deemed to be an Indian company.
- S. 12Vacation of office of Chairman, etc.
- S. 12ABonus.
- S. 13Obligations as to fidelity and secrecy.
- S. 14Custodian to be public servant.
- S. 15Certain defects not to invalidate acts or proceedings.
- S. 16Indemnity.
- S. 16AArrangement with corresponding new bank on appointment of directors to prevail.
- S. 17Construction of references to existing banks.
- S. 18Dissolution.
- S. 18ASupersession of Board in certain cases.
- S. 19Power to make regulations.
- S. 20[Repealed.].
- S. 21Repeal and saving.