The Banking Companies (Acquisition and Transfer of Undertakings) ActAn Act to provide for the acquisition and transfer of the undertakings of certain banking companies, having regard to their size, resources, coverage and organisation, in order further to control the heights of the economy, to meet progressively, and serve better, the needs of the development of the economy and to promote the welfare of the people, in conformity with the policy of the State towards securing the principles laid down in clauses (b) and (c) of article 39 of the Constitution and for matters connected therewith or incidental thereto.
List of Chapters & Sections
PRELIMINARY TRANSFER OF THE UNDERTAKINGS OF EXISTING BANKS AND SHARE CAPITALS OF THE CORRESPONDING NEW BANKS PAYMENT OF AMOUNT MANAGEMENT OF CORRESPONDING NEW BANKS MISCELLANEOUS
TRANSFER OF THE UNDERTAKINGS OF EXISTING BANKS AND SHARE CAPITALS OF THE CORRESPONDING NEW BANKS
PAYMENT OF AMOUNT
MANAGEMENT OF CORRESPONDING NEW BANKS
MISCELLANEOUS10Closure of accounts and disposal of profits10AAnnual general meeting10BTransfer of unpaid or unclaimed dividend to Unpaid Dividend Account.11Corresponding new bank deemed to be an Indian company12Vacation of office of Chairman, etc12ABonus13Obligations as to fidelity and secrecy14Custodian to be public servant15Certain defects not to invalidate acts or proceedings16Indemnity16AArrangement with corresponding new bank on appointment of directors to prevail17Construction of references to existing banks18Dissolution18ASupersession of Board in certain cases19Power to make regulations20[Repealed.]21Repeal and saving