Find various provisions of the Banking Regulation Act, on Hello Counsel. Taxmann’s Banking Regulation Act incorporated banking ombudsman scheme, co-operative banks rules, period of preservation of records, acquisition and. Read Banking Regulation Act book reviews & author details and more at Reserve Bank of India Act (Bare Act) ( Edition) by Taxmann.

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Section10C – Chairman and certain reglation not to be required to hold qualification shares. Industrial Employment Standing Orders Act Section45K – Power of High court to enforce schemes of arrangements, etc. Trade Unions Act Provided further that this sub-section shall not apply if and when the director concerned vacates the office of the director of the banking company, whether by death, retirement, resignation or otherwise.

Section45 – Power of Reserve Bank to apply to Central Government for suspension of business by a banking company and to prepare scheme of reconstitution of amalgamation. Section36AE – Power of Central Government to acquire undertakings of banking companies in certain cases.

Banking Regulation Act Complete Act – Citation – Bare Act | LegalCrystal

bamking Provided that no banking company to which this clause applies shall be required to have paid-up capital and reserves exceeding an aggregate value of five lakhs of rupees:. Regulation of paid-up capital, subscribed capital and authorised capital and voting rights of shareholders.

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Section20 – Restrictions on loans and advances. Section45ZF – Notice of claims of oilier persons regarding safety lockers not receivable. Every regional rural bank shall submit a copy of the return which it submits to the Reserve Bank under sub-section 1 also to the National Bank and the powers exercisable by the Reserve Bank under sub-section 2 may also be exercised by the National Bank in relation to regional rural banks.

Licensing of banking companies. Write a product review. Section42 – Power to dispense with meetings of creditors, etc. Restrictions as to payment of dividend.

Professional’s Banking Regulation Act, Bare Act

Certain claims for compensation barred. Short title, extent and commencement. Power of Reserve Bank to appoint additional Bankinh. Return of paid instruments to customers. Provided that out of the aforesaid number of directors, not less than two shall be persons having special knowledge or practical experience in respect of agriculture and rural economy, co-operation or small-scale industry; and b shall not— 1 have substantial interest in, or be connected with, whether as employee, manager or managing agent,— i any company, not being a company registered under section 25 of the Companies Act, 1 ofor ii any firm, which carries on any trade, commerce or industry and which, in either case, is not a small-scale industrial concern, or 2 be proprietors of any trading, commercial or industrial concern, not being a small-scale industrial concern.

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Procedure of the Tribunal.

Banking Regulation Act 1949

Add to My Wishlist. Section39A – Application of Companies Act to liquidators. Indian Trusts Act Employees Compensation Act Banking company to be managed by whole time chairman. Public examination of Directors and Auditors, etc. Special period of limitation.

Professional’s Banking Regulation Act,1949 Bare Act

Prevention of Money Laundering Act with Rules. 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 and conditions, as the Reserve Bank may deem fit: Nomination for return of articles kept in safe custody with banking company.

Prohibition of charge on unpaid capital. Negotiable Instruments Act Enforcement of orders and decisions of High Court. Production of documents of confidential nature.

Provided that nothing contained in this sub-section shall bar a suit or other proceeding—.