Amendment status not verified — confirm the current text below against the official source.
In this Act, unless the context otherwise requires,— Definitions. (a) "appointed day" means the date of publication of the order made under section 3; (b) "bank" means a banking company as defined in clause 10 of 1949. (c) of section 5 of the Banking Regulation Act, 1949 and includes the State Bank of India constituted under 23 of 1955. the State Bank of India Act, 1955, a subsidiary bank as 281 The Indian College of Arts and Draftsmanship (Taking over of Management) Act, 1977. [West Ben. Act (Sections 3,4.) Taking over of management of the undertaking of the institution. General effect of an order made under section 3. defined in the State Bank of India (Subsidiary Banks) 38 of 1959. Act, 1959, a corresponding new bank as defined in clause (d) of section 2 of the Banking Companies 5 of 1970. (Acquisition and Transfer of Undertakings) Act, 1970, a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 10 of 1949. and also includes any other financial institution which may be notified in this behalf by the State Government; (c) "the institution" means the Indian College of Arts and Draftsmanship at 139, Dharamtola Street, Calcutta, a society registered under the Societies Registration Act, 21 of 1860. 1860; (d) "the undertaking of the institution" shall be deemed to include all rights, powers, authorities and privileges of the institution and all properties movable or immovable, cash balances, reserve funds and other assets of the institution including furniture, stores,models, equipments, libraries, art materials, apparatus, tools, instruments, implements or any other property which may be in the ownership, possession,custody or control of the institution in relation to its undertaking immediately before the appointed day and all books of accounts, registers and other documents of whatever nature relating thereto; (e) "prescribed" means prescribed by rules made under this Act.