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The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

29 sections · 5 chapters · 3 schedules

- Section 1 Short title and commencement
- Section 2 Definitions.
- Section 6 Payment of compensation.
Schedule 1 THE FIRST SCHEDULE
Schedule 2 THE SECOND SCHEDULE.
Schedule 3 THE THIRD SCHEDULE

The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

Finance1970Central Act

The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

An Act to provide for the acquisition and transfer of the undertakings of certain banking companies, having regard to their size, resources, coverage and organisation, in order to control the heights of the economy and to meet progressively, and serve better, the needs of development of the economy in conformity with national policy and objectives and for matters connected therewith or incidental thereto.

Administered by Department of Financial Services· Ministry of Finance

5

Chapters

0

Parts

3

Schedules

29

Sections

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Chapter I— PRELIMINAR

Section 1
Section 2

Chapter II— TRANSFER OF THE UNDERTAKINGSOF EXISTING BANKS AND SHARE CAPITALS OF THE CORRESPONDING NEW BANKS

Section 3
Section 3A
Section 3B
Section 4
Section 5

Chapter III— PAYMENT OF COMPENSATION

Section 6

Chapter IV— MANAGEMENT OF CORRESPONDING NEW BANKS

Section 7
Section 8
Section 9
Section 9A

Chapter V— MISCELLANEOUS

Section 10
Section 10A
Section 10B
Section 11
Section 12
Section 12A
Section 13
Section 14
Section 15
Section 16
Section 16A
Section 17
Section 18
Section 18A
Section 19
Section 20
Section 21