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State Bank of India Subsidiary Banks Act, 1959 Complete Act - Bare Act

StateCentral Government
Year
Act Info:
Preamble1 - STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT, 1959
Chapter I
Section1 - Short Title
Section2 - Definitions
ChapterII - CONSTITUTION OF NEW BANKS AND CHANGE OF NAME OF ANY SUBSIDIARY BANK
Section3 - Establishment Or New Banks
Section3A - Change Or Name Of A Subsidiary Bank
Section4 - New Banks To Be Bodies Corporate
Section5 - Head Office And Branches Of New Banks
Section6 - Authorised Capital of New Banks
Section7 - Issued Capital Of New Banks
Section8 - Reserve Fund Of The New Banks
Section9 - Transfer Of Shares Of Existing Banks To State Bank
Section10 - TransferOf Undertaking Of Existing Banks To New Banks
Section11 - Transfer Of Services Of Employees Of Existing Banks
Section12 - Special Provision For Transfer Of Foreign Assets
Chapter III
Section13 - Compensation To Shareholders Of Existing Banks Other Than The Bank Of Patiala
Section14 - Compensation Payable by the State Bank in Respect of the Bank of Patiala, Bank and the Hyderabad Bank
Section15 - Constitution Of The Tribunal
Section16 - Tribunal To Have Powers Of A Civil Court
Section17 - Procedure Of The Tribunal
Chapter IV
Section18 - Transferability Of Shares
Section18A - Right of registered shareholder to nominate
Section19 - Restriction on voting rights
Section20 - Share To Be Approved Securities
Section21 - Register Of Shareholders
Section21A - Register Of Beneficial Owners
Section22 - Trusts Not To Be Entered On The Register
Chapter V
Section23 - Certain Officers To Vacate Office
Section24 - Management
Section25 - Composition Of The Board Of Directors
Section25A - Fit and proper status of an elected director
Section25B - Power of Reserve Bank to appoint additional directors
Section26 - Term Of Office Of Directors
Section27 - Disqualification For Directorship
Section28 - Vacation Of Office Of Directors
Section29 - Managing Director
Section30 - Remuneration Of Directors
Section31 - Removal From Office Of Director
Section32 - Appointment Of Another Person For Discharging The Duties Of Managing Director During His Absence
Section33 - Casual Vacancies Among Directors
Section34 - Meetings Or The Board Of Directors
Section35 - Executive Committee And Other Committees
Section35A - Supersession of Board of Directors in certain cases
Chapter VI
Section36 - Subsidiary Bunk To Act As Agent Of The State Bank
Section36A - Subsidiary Bank To Act As Agent Of The Reserve Bank
Section37 - Other Business Which A Subsidiary Bank May Transact
Section38 - Acquisition Of Business Of Other Banks
Section38A - Arrangement With Subsidiary Banks On Appointment Of Directors To Prevail
Chapter VII
Section39 - Closing of annual accounts
Section40 - Disposal Of Profits
Section40A - Transfer of unpaid or unclaimed dividend to unpaid dividend account
Section41 - Audit
Section42 - Temporary Provision Regarding Existing Auditors
Section43 - Returns To Be Furnished By A Subsidiary Bank
Section44 - General Meetings
Chapter VIII
Section45 - Power To Issue Direct In As Far Removing Difficulties
Section46 - Observers for Existing Banks
Section47 - Inspection
Section48 - Cost of Development Programme
Section49 - Special Provision Regarding Existing Officers And Employees
Section50 - Staff of a Subsidiary Bank
Section50A - Bonus
Section51 - Establishment of Pension and Super annuation Funds By Subsidiary Banks
Section52 - Obligation as to Fidelity and Secrecy
Section53 - Indemnity of Directors
Section54 - Defects in Appointment or Constitution Not to Invalidate Acts or Proceedings
Section55 - Companies Act, 1956, And Banking Companies Act, 1949, Not to Apply to Certain Existing Banks
Section56 - Continuance of Special Provisions Respecting Recovery of loans and advances made by the Bank of Patiala
Section57 - Bar to Liquidation of a Subsidiary Bank
Section58 - Dissolution of Existing Banks
Section59 - Construction of References to Existing Banks
Section60 - Exercise of Powers and Functions on Behalf of the Reserve Bank
Section61 - Protection of Action Taken Under Act
Section62 - Power of Central Government to Make Rules
Section63 - Power of The State Bank to Make Regulations
Section64 - Amendment Of Certain Enactments
Section65 - Saving
ScheduleI - FIRST SCHEDULE
ScheduleII - SECOND SCHEDULE
ScheduleIII - THIRD SCHEDULE
Amending Act1 - THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) AND FINANCIAL INSTITUTIONS LAWS (AMENDMENT) ACT, 2006
Amending Act2 - THE STATE BANK OF INDIA (SUBSIDIARY BANKS LAWS) AMENDMENT ACT, 2007


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