LawgistThe Small Industries Development Bank of India Act
46Nomination by depositors or holders of bonds or other securities
(1) Notwithstanding anything contained in any other law, where a nomination in respect of any deposits, bonds or other securities kept with or issued by the Small Industries Bank is made in the prescribed manner, the amount due on such deposits, bonds or other securities shall, on the death of the depositor or holder thereof, vest in, and be payable to, the nominee subject to any right, title, interest or claim of any other person, in relation to such deposits, bonds or other securities.
(2) Any payment by the Small Industries Bank in accordance with the provisions of sub-section (1) shall be a full discharge of its liability in respect of such deposits, bonds or securities.
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MISCELLANEOUS
- 33 Staff of Small Industries Bank
- 34 Delegation of powers
- 35 Returns
- 36 Obligations as to fidelity and secrecy
- 37 Defects in appointment not to invalidate acts, etc
- 37A Amounts and securities to be held in trust
- 38 Rights of Small Industries Bank in case of default
- 39 Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate
- 40 Power to call for repayment before agreed period
- 41 Special provisions for enforcement of claims by Small Industries Bank
- 42 Small Industries Bank to have access to records
- 43 Validity of loan or advance not to be questioned
- 44 Indemnity of Directors
- 45 Protection of action taken under this Act
- 46 Nomination by depositors or holders of bonds or other securities
- 47 Arrangement with Small Industries Bank on appointment of directors to prevail
- 48 Act 18 of 1891 to apply in relation to Small Industries Bank
- 49 Act 10 of 1949 not to apply to Small Industries Bank
- 50 [Omitted.]
- 51 Liquidation of Small Industries Bank
- 51A Power to make rules by Central Government
- 52 Power to make regulations
- 53 [Repealed]
- 54 Power to remove difficulties
