Amendment status not verified — confirm the current text below against the official source.
(1) Save as otherwise provided in sub-section (2), the equity shares of the Development Bank shall be freely transferable. (2) Nothing contained in sub-section (1) shall entitle the Central Government to transfer any shares held by it in the Development Bank if such transfer will result in reducing the equity shares held by it to less than fifty-one per cent. of the issued equity capital of the Development Bank. Section 13A ins. by Act 5 of 1995, sec. 15 (w.r.e.f. 12/10/1994).