LawgistThe Deposit Insurance and Credit Guarantee Corporation Act
12Registration of defunct banking companies
Every banking company being a defunct banking company at the commencement of this Act, by reason of sub-clause (vii) or sub-clause (viii) of clause (f) of section 2 shall, unless it becomes a defunct banking company under any other sub-clause of that clause, be registered by the Corporation as an insured bank as soon as may be after the termination of the order moratorium or, as the case may be, the rejection of the application for its winding up.
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REGISTRATION OF BANKING COMPANIES AND CO-OPERATIVE BANKS AS INSURED BANKS AND LIABILITY OF CORPORATION TO DEPOITORS
- 10 Registration of existing banking companies
- 11 Registration of new banking companies
- 11A Registration of Regional Rural Banks
- 12 Registration of defunct banking companies
- 13 Cancellation of registration
- 13A Registration of co-operative banks
- 13B Registration of defunct co-operative banks
- 13C Cancellation of registration of co-operative banks
- 13D Circumstances in which Reserve Bank may require winding up of co-operative banks
- 14 Intimation of registration
- 15 Premium
- 15A Cancellation of registration of an insured bank for non-payment of premium
- 16 Liability of Corporation in respect of insured deposits
- 17 Manner of payment by Corporation in case of winding up of insured banks
- 18 Manner of payment by corporation in case of scheme of compromise or arrangement or of reconstruction or amalgamation in respect of an insured bank
- 19 Discharge of the liability of Corporation
- 20 Provision for unpaid amounts
- 21 Repayment of the amount to corporation
