LawgistThe Reserve Bank of India Act
57Liquidation of the Bank
(1) Nothing in the 1[Companies Act, 1956 (1 of 1956)] shall apply to the Bank and the Bank shall not be placed in liquidation save by order of the 2[Central Government] and in such manner as 3[it may direct].
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1. Subs. by Act 19 of 1957, s. 5, for "Indian Companies Act, 1913 (7 of 1913)" (w.e.f. 8-6-1957).
2. Subs. by the M.O. 1937, for "G.G. in C.".
3. Subs. by ibid., for "he may direct".
4. Sub-section (2) omitted by Act 62 of 1948, s. 7 and the Schedule (w.e.f. 1-1-1949).
GENERAL PROVISIONS
- 46 Contribution by Central Government to the Reserve Fund
- 46A Contribution to National Rural Credit (Long Term Operations) Fund and Nation al Rural Credit (Stabilisation) Fund
- 46C National Industrial Credit (Long Term Operations) Fund
- 46D National Housing Credit (Long Term Operations) Fund
- 47 Allocation of surplus profits
- 48 Exemption of Banks from income-tax and super-tax
- 49 Publication of Bank rate
- 50 Auditors
- 51 Appointment of special auditors by Government
- 52 Powers and duties of auditors
- 53 Returns
- 54 Rural Credit and Development
- 54A Delegation of powers
- 54AA Power of Bank to depute its employees to other institutions
- 55 [Omitted.]
- 56 [Omitted.]
- 57 Liquidation of the Bank
- 58 Power of the Central Board to make regulations
- 58A Protection of action taken in good faith
