Bare ActsThe Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980

Section 4

Undertakings of existing banks to vest in corresponding new banks.

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

On the commencement of this Act, the undertaking of every existing bank shall be transferred to, and shall vest in, the corresponding new bank.

Amended up to 2019-04-15View on India Code →
Section 4 – The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 | DailyLaw.ai