Amendment status not verified — confirm the current text below against the official source.
(1) The issued capital of the Development Bank which has been subscribed by the Reserve Bank as on the date immediately preceding the commencement of section 5 of the Public Financial Institutions Laws (Amendment) Act,1975 (hereinafter referred to as the "appointed day"), shall, on such commencement, stand transferred to, and vested in the Central Government.] [x x x x] Sections 4, 4A and 4B subs. by Act 52 of 1975, sec. 5, for section 4 (w.e.f. 16/02/1976). Sub-section (2) omitted by Act 5 of 1995, sec. 4 (w.r.e.f. 12/10/1994).