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(1) Save as otherwise provided in sub-section (2), the shares of the
State Bank shall be freely transferable.
(2) Nothing contained in sub-section (1) shall entitle the 1[Central Government] to transfer any shares
held by it in the State Bank if such transfer will result in reducing the shares held by it to less than 2[fifty-one per cent. of the issued capital consisting of equity shares,] of the State Bank.
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1. Subs. by Act 32 of 2007, s. 4, for "Reserve Bank" (w.e.f. 29-6-2007).
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2. Subs. by 27 of 2010, s. 5, for "fifty-five per cent. of the issued capital" (w.e.f. 15-9-2010).
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