The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act `1982

An Act to provide, in the public interest, for the acquisition of certain shares of the State Bank of Sikkim for the purpose of better consolidation and extension of banking facilities in the State of Sikkim and for matters connected therewith or incidental thereto.
1982
  • VESTING OF UNDERTAKINGS OF SIKKIM BANK IN THE CENTRAL GOVERNMENT

  • 4
     Vesting of undertaking of Sikkim Bank
  • 5
     General effect of vesting
  • 6
     Vesting of the shares and undertakings of Sikkim Bank in the State Government
  • 7
     Power of State Government to direct vesting of the undertakings of Sikkim Bank the Sikkim Co-operative bank
  • PAYMENT OF AMOUNTS

  • 8
     Payment of amounts
  • MANAGEMENT, ETC., OF THE UNDERTAKINGS OF SIKK

  • 9
     Management, etc., of the undertakings of Sikkim Bank
  • 10
     Date of delivery, possession of property acquired and documents relating thereto
  • PROVISIONS RELATING TO THE EMPLOYEES OF THE SIKKIM BANK

  • 11
     Transfer of service of existing officers and employees of the Sikkim Bank to the co-operative bank
  • MISCELLANEOUS

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     Act to have overriding effect
  • 13
     Protection of action taken in good faith
  • 14
     Penalties
  • 15
     Offences by companies
  • 16
     Delegation of powers
  • 17
     Power of Central Government to make rules
  • 18
     Power to remove difficulties
  • 19
     References to Sikkim Bank in other laws
  • 20
     Dissolution of Sikkim Bank