Lawgist4BTransfer of capital
1[4B. Transfer of capital.--On such date as the Central Government may, in consultation with the Development Bank, by notification, specify (hereinafter referred to as "the specified date"), not less than fifty-one per cent. of the issued capital of the Small Industries Bank which has been subscribed by the Development Bank as on the date immediately preceding the specified date shall, stand transferred to, and vested in, the public sector banks, the General Insurance Corporation, the Life Insurance Corporation and other institutions owned or controlled by the Central Government in such proportion, manner and on such terms and conditions as may be determined by that Government.]
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1. Subs. by Act 7 of 2000, s. 3, for sections 4 to 6 (w.e.f. 27-3-2000).
- 3 Establishment and incorporation of Small Industries Development Bank of India
- 4 Authorised capital
- 4A Conversion of equity shares into redeemable preference shares
- 4B Transfer of capital
- 4C Issued capital
- 4D Reduction of share capital
- 4E Restriction on exercising of voting right
- 5 Management
- 6 Constitution of Board
- 7 [Omitted.]
- 8 Disqualification of directors
- 9 Vacation and resignation of office by directors
- 10 [Omitted.]
- 11 [Omitted.]
- 12 Executive Committee and other committees
- 12A Fees and allowances of directors and members of committees
