Section 1
Short title and commencement
The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970
About this Act
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.
(1) This Act may be called the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970.
(2) The provisions of this Act (except section 21, which shall come into force on the appointed day) shall be deemed to have come into force on the 19th day of July, 1969.
(2) The provisions of this Act (except section 21, which shall come into force on the appointed day) shall be deemed to have come into force on the 19th day of July, 1969.