THE BANKING REGULATION ACT, CONTENTS. Introduction i. PART I. Preliminary. Section. Pages. 1. Short title, extent and commencement 1. 2. Find various provisions of the Banking Regulation Act, on Hello Counsel. Read Banking Regulation Act book reviews & author details and more at Reserve Bank of India Act (Bare Act) ( Edition) by Taxmann.
|Published (Last):||20 March 2015|
|PDF File Size:||19.57 Mb|
|ePub File Size:||8.55 Mb|
|Price:||Free* [*Free Regsitration Required]|
Banking Regulation Act 1949
Application of certain provisions to the State Bank of India and other notified banks. Provided that the Reserve Bank may, in any case, on an 19949 in writing made to it by the banking company in this behalf, extend the period for the recovery of the loan or advance until such date, not being a date bard the period of three years from the commencement of the said section 5, and subject to such terms and conditions, as the Reserve Bank may deem fit:.
Please try again later. Change of name by banking company. Provided that the Reserve Bank may, in any case, on an application in writing made to it by the banking company in this behalf, extend the period for the recovery of the loan or advance until such date, not being a date beyond the period of three years from the commencement of the said section 5, and subject to such terms banking regulation act 1949 bare act conditions, as the Reserve Bank may deem fit: Section39 – Reserve Bank to be official liquidator.
Power of High Court in voluntary winding up. Securities and Exchange Board of India Act Power of Reserve Bank to remove managerial and other persons from office. Further powers and functions of Reserve Bank. Insolvency And Bankruptcy Banking regulation act 1949 bare act Section20A – Restrictions on power to remit debts.
Banking Regulation Act, 1949: Bare Act
Prohibition of charge on unpaid capital. It is applicable in jammu and kashmir from It is hereby enacted as regulatioon Section36AI – Tribunal to have powers of a civil court.
Board of directors to include persons with professional or other experience. To learn more about Amazon Sponsored Products, click here. Section36AD – Punishments for certain activities in relation to banking companies.
Section45I – Duty of directors and officers of banking bamking to assist in the realisation or property. Provided that nothing in this sub-section shall be construed as prohibiting a chairman from being a director of a subsidiary of the banking company or a director of a company registered under section 25 of the Companies Act, 1 of Provided that nothing contained in this sub-clause shall apply to the payment by a banking company of— a any bonus in pursuance acct banking regulation act 1949 bare act settlement or award arrived at or made under any law relating to industrial disputes or in accordance with any scheme tegulation by such banking company or in accordance with the usual practice prevailing in banking business; b any commission to any broker including guarantee brokercashier-contractor, clearing and forwarding agent, auctioneer or any other person, employed by the banking banking regulation act 1949 bare act under a contract otherwise than as a regular member of the staff of the company; or iii whose qct is, in the opinion of the Reserve Bank, excessive; or c shall be managed by any person— i who is a director of any other company not being— a a subsidiary of the banking company, or b a company registered under section 25 of the Companies Act, banklng of Return of unclaimed deposits.
Banking company to be managed by whole regulstion chairman. Section44B – Restriction on compromise or arrangement between bankint company and creditors. Provided that no banking company to which this banking regulation act 1949 bare act applies shall be required to have paid-up capital and reserves exceeding an aggregate value of five lakhs of rupees: Section10C – Chairman and certain directors not to be required to hold qualification shares.
Section45ZC – Nomination for return of articles kept in safe custody with banking company.
Part IIA to override other laws. Initially, the law was applicable only to banking companies.
Banking Regulation Act Section 26 – Citation – Bare Act | LegalCrystal
Banking company to be managed by whole-time Chairman. Procedure of the Tribunal. Section36AE – Power of Central Government to acquire undertakings of banking companies in certain cases.
Rates of interest charged by banking companies not to be subject to scrutiny by courts.
Alteration of memorandum of a banking company. Then you can start reading Kindle books on your smartphone, tablet, or computer – no Kindle device required.
Bajking of words “bank”, “banker”, “banking” or “banking company”. Section10 – Prohibition of employment of managing agents and restrictions on certain forms of employment.